All businesses need insurance, but just because you have insurance, doesn’t mean you’ll be fully covered. Policies that include building insurance or extreme weather insurance can be much less clear-cut than you might expect or hope for. Insurance disputes occur when your insurance company doesn’t feel like your claim has validity. This can affect your business by forcing you to pay significant out-of-pocket expenses to cover various damages.
1. Read the policy
There’s a reason why insurance policies are so long and verbose. Insurance companies want to make sure that they’re covered just as much as you are. If people can find loopholes in their policies, an insurance company could have trouble staying afloat. They will likely assume that you’re not going to read the policy closely. If a claim is denied, you should ask them for their reason and see if it’s on the policy. If not, you have a reason to keep pursuing your case. If you are unsure about what to look for, ask your local lawyer for advice.
2. Agree on the Terms
Insurance disputes tend to arise because the person affected has a different idea of what the terms mean than the insurance company. This is why companies make their policies so specific, but it’s still possible to find cracks in them. When you have an insurance dispute, you need to work to bring the company to understand your point-of-view. Your power of persuasion will really come in handy here, as thorough insistence is key in getting insurance claims approved.
3. Negotiate
Getting a win for your business doesn’t mean the insurance company has to lose outright. Instead, the two parties can work to achieve some sort of reasonable compromise. For instance, if you believe that their settlement monetary value is grossly under what you should be receiving, it might not work well to immediately ask for your desired amount. However, you can definitely find some wiggle room that is satisfying enough. Compromising can be difficult if you’re especially prideful, but it’s certainly better than receiving nothing.
4. Take them at their word
You need to listen closely to what your insurance company has to say in regard to your policy because you never know when you can use it to your advantage. They might make a promise that completely contradicts a previous one. You can log or record these to prove that you are entitled to compensation. In these situations, it’s advised to have legal counsel available.
5. Hire a lawyer
Proper legal representation can be necessary if you’re having a difficult time getting your insurance company to budge. By hiring an accomplished and dedicated attorney, you can make the most out of your case. They will argue on your behalf and show why the insurance company is being unfair to you. Make sure to have the contact information of multiple attorneys who specialize in insurance disputes, even if you’re not currently filing a claim.
Tate Law Group is located in Savannah, Georgia and has over ten years of experience getting the best for our clients. If you are in need of legal advice, contact Tate Law Group today at (912) 234-3030 or click here.
