In New York, commercial property insurance covers the physical property, inventory inside the property, and common liabilities. The terms of the policy also define when coverage is not available to the property owner. A local Commercial Property Adjuster in Queens NY will explain their role in the claims process and how the claims work.
Evaluates Property Damage Claims
Property damage claims require an inspection of the property and estimates from repair services. The role of the claims adjuster is to determine how the damage occurred and if it is covered under the policy. Estimates for repairs must reflect the necessary services that remedy damaged caused by the covered event.
Reviews Break-in Claims
After a break-in, the commercial property owner must contact the authorities and obtain a police report. Without a complete police report, the insurer is unlikely to settle a claim. The police must establish that an outside party was responsible for the crime.
Assesses the Terms of Insurance Policies
Claims adjusters review the terms of the commercial property insurance coverage and determine if coverage is available. For example, the investigation must show that the property owner reported the damage in a reasonable amount of time. Water leaks, for example, cause mold developments. If a mold development spread extensively, it is less likely that the owner reported the damage promptly.
Submits Payments After Approval
Claims adjusters provide payments to claimants after the claim is approved. The circumstances of the claim must abide by the terms and clauses of the insurance policy. The amount of coverage defines how much money is available to the property owner or the individual seeking coverage for injuries or property damage.
In New York, commercial property insurance provides coverage for specific events that lead to property damage and financial losses. The owner must file a claim promptly and the circumstances of the event must follow the terms of the policy. A claims adjuster reviews the claim and determines if the event is covered under the policy. Property owners who want to learn more about what a Commercial Property Adjuster in Queens NY does and how the adjuster can help them can visit us for more details now. You can connect with them on Facebook for more updates!
