As a business owner in Florida, it’s your responsibility to protect everything you’ve built. One way to do this is by investing in the right insurance coverage for your company. Commercial property insurance can help cover the cost of repair or replacement after an unforeseen event – however, you need to be aware of potential exclusions before filing a claim.
Our insurance dispute lawyers are highly experienced with commercial insurance claims. We understand that when it comes to protecting your Florida business, you need legal representation and advice you can trust. At Herman & Wells, we strive to provide thorough guidance on all aspects of commercial property insurance in order to help our clients avoid disputes before they start. We also have a team of experienced attorneys who are prepared to fight for your rights if an insurance dispute arises.
Whether you’re looking for guidance on obtaining coverage or need an attorney to help resolve a dispute, our team of Florida insurance dispute lawyers is here to assist. Contact Herman & Wells today to learn more about how we can protect your interests in commercial property insurance matters.
The Cliff Notes: Key Takeaways From This Post
- Every commercial business in Florida needs to have adequate property insurance coverage in place to protect their investments and assets.
- Some commercial property insurance exclusions include wear and tear, flood damage, or damages caused by acts of war, etc.
- Unfortunately, insurance companies can sometimes deny or underpay commercial property insurance claims, leaving business owners without the coverage they were promised.
- You have options available for challenging a denied insurance claim.
- At Herman & Wells law firm, we can provide you with the legal guidance and representation you need to get the coverage you deserve.
Common Commercial Property Insurance Exclusions In Florida
When looking into purchasing commercial property insurance in Florida, you’ll want to be aware of common exclusions. While the coverage can help protect your business from losses due to certain risks, some things may not be included. Common exclusions include:
Natural Disasters And Weather-Related Events
Many commercial property insurance policies in Florida do not cover the costs associated with natural disasters, such as floods and earthquakes.
Acts Of Terrorism And War
Damage or destruction due to a terrorist act is generally not included under commercial property insurance policies in Florida. Damage resulting from criminal acts, such as arson, vandalism, and theft, may also be excluded from coverage.
Negligence And Intentional Acts
If you or your employees act negligently, causing damage to the property, it’s unlikely that your insurance policy will cover the costs of repair. Additionally, any intentional acts, such as deliberately damaging another person’s property, are excluded from coverage under commercial property insurance policies in Florida.
Cybersecurity Breaches And Data Loss
In today’s digital age, data loss as a result of cyber attacks is an increasing threat. Unfortunately, most commercial property insurance policies in Florida don’t cover the costs associated with restoring or replacing lost data.
Pollution And Environmental Damage
Pollution from any source and associated environmental damage are generally excluded from commercial property insurance policies in Florida. This includes damage caused by hazardous materials or chemicals that have been released on the property, as well as disposal costs for contaminated materials.
Wear And Tear And General Maintenance Issues
Damage caused by normal wear and tear, as well as any damage that results from lack of maintenance, are typically excluded from coverage.
If you have questions about what is and isn’t covered under your insurance policy or if you find yourself in an insurance dispute with your insurer, it’s important to consult with a commercial insurance dispute attorney.
Additional Exclusions Florida Business Owners Should Take Note Of
Specific Exclusions That Could Be Included In Your Commercial Insurance Policy
In addition to the exemptions mentioned earlier, there is also an exclusion for windstorm coverage that policyholders may opt into if they choose. Finally, employers with fewer than three employees should check with authorities before assuming they do not need workers’ compensation insurance as there are exceptions to this rule. Other insurance coverage to consider includes:
- Commercial Auto Insurance: This provides protection against damages and injuries caused by or to the vehicle and its driver while in the scope of business operations.
- Inland Marine Insurance: Inland marine insurance provides coverage for items and equipment that may be damaged while in transit.
Limits On Coverage Amounts And Replacement Costs
The maximum amount of coverage available on commercial property insurance policies in Florida will typically be equal to the property’s appraised value. This means that if your business experiences a loss due to an event not covered by your policy, you may need to cover any remaining costs yourself. In addition, many policies have limits on the replacement cost of damaged items, so make sure to review your policy carefully.
Exclusions Related To The Location And Type Of Property
The location and type of property you are insuring can also be a factor in the coverage available. For example, some policies may not cover buildings located in certain areas or properties that have been designated as historical sites. Additionally, some policies may only cover certain types of business-related structures, such as offices or warehouses.
Exclusions Related To The Type Of Business Or Industry
Your business’s industry could also be a reason for an exclusion. For example, some policies may not cover businesses that operate in certain industries, such as those related to hazardous materials or high-risk activities.
Pop Quiz! How Well Do You Know Your Commercial Policy & Its Exclusions?
Reading and understanding your commercial property insurance policy is essential for any business owner in Florida. Without a thorough understanding of the policy, business owners may be unaware of the limitations of their coverage and be exposed to unexpected costs that have been excluded from their policy.
It is important to review all exclusions carefully and take into account any additional limits that may be included in your policy. If you are unsure of the coverage provided by your policy or find yourself in an insurance dispute, it’s best to consult a professional insurance dispute lawyer in Florida for legal advice.
Questions To Ask Your Insurance Agent
When reviewing your policy, it is important to ask the right questions. Some of the key questions you should be asking include:
- What specific events are not covered by my insurance policy?
- Are there any additional limits on coverage or replacement costs included in my policy?
- Does my business qualify for workers’ compensation insurance and, if so, what additional coverage could I benefit from?
- Are there any exclusions related to the type of property or business that are included in my policy?
How To Determine If You Have Enough Coverage To Meet Your Businesses’ Needs
The best way to ensure that you have enough coverage for your business is to review your policy and understand the limitations of what is and isn’t covered. It may also be a good idea to consult with an insurance dispute lawyer or expert in Florida to help make sure that you understand your policy.
Additionally, if you are concerned that you may need to increase your coverage in the future, there are options available to tailor a policy that meets your needs. For example, some policies offer flexible coverage limits and additional coverages such as cyber liability insurance or workers’ compensation insurance.
What To Do If Your Commercial Insurance Claim Is Denied
If your commercial property insurance claim has been denied in Florida, it can be helpful to understand why. Some of the possible reasons for a denial include not having the right coverage amount, not meeting the criteria listed in the policy exclusions, or not filing the claim correctly.
Here’s what you can do:
Review Your Policy And Make Sure You Understand The Limits Of Your Coverage
Consult a professional insurance dispute lawyer in Florida to understand your legal options. Gather all the necessary documentation for your claim and make sure everything is filed correctly.
Consult With An Insurance Dispute Lawyer For Legal Advice
If you think that your claim has been wrongfully denied, contact an experienced insurance dispute lawyer who can help guide you through the process of resolving the dispute.
Evaluate Whether Additional Coverage Would Be Beneficial For You
If your policy doesn’t match up to the needs of your business, consider buying additional coverage or looking for a more comprehensive plan. Having the right amount of coverage is essential for protecting your interests and ensuring that you are not exposed to unexpected costs in case of an emergency.
Appeal The Claim Decision Through The Insurance Company’s Appeals Process
If you think that your claim has been wrongfully denied, it is important to make sure that the appeal process is followed correctly. An experienced insurance dispute lawyer in Florida can help guide you through this process and make sure that your case is presented properly.
How Can Florida Business Owners Dispute Denied Commercial Insurance Claims?
When commercial property insurance claims are denied in Florida, business owners have the option to dispute the denial and take action to receive the coverage they were promised. There are two primary options available for disputing denied insurance claims: mediation and litigation.
Mediation is a process where a trained mediator helps both parties to come to an agreement without going through the court system. This can be beneficial if both parties are willing to cooperate and make a reasonable effort to resolve the claim.
If mediation is unsuccessful, then litigation is another option. In this case, you may need to hire an experienced insurance dispute lawyer in Florida to help you present your case. An insurance dispute attorney will have extensive knowledge of the laws that govern commercial property insurance and can provide valuable guidance during the litigation process.
Should You Contact An Attorney To Get A Second Opinion Regarding Your Claim?
No matter the size or complexity of your claim, it’s always a good idea to talk to an attorney experienced with commercial insurance disputes in Florida before taking any action. They can provide you with valuable insight into your rights and potential legal options. Additionally, they can help you strategize ahead of time so that if your claim is denied, you know exactly what to do.
Our Insurance Dispute Attorneys Will Review Your Commercial Insurance Claim
Understanding the exclusions in your commercial property insurance coverage is an important part of ensuring that you have the right protection for your business. Exclusions can be found in the policy documents, and they indicate which types of losses or damages are not covered by the policy. It’s essential to review these exclusions carefully so that you can make sure that your business is properly protected.
At Herman & Wells law firm, we understand the complexities of insurance contracts and have extensive experience in representing clients with denied commercial property insurance claims. Our team of experienced insurance dispute attorneys will review your policy and dispute any unjustified denials from insurance companies on your behalf. Call (727) 821-3195 for a free consultation today and to learn more about how we can help you protect your commercial property.