There’s a good time and a bad time to learn about business insurance coverage. Undoubtedly, the best time is always before costly damages occur. Hopefully, this article will inspire you to look at your current insurance coverage to see if your business is underinsured.
Speaking with your insurance company after experiencing a heartbreaking tragedy to your business property feels even worse after listening to them explain the shortcomings of your policy and why your claim has been denied.
We do not want this to happen to you.
Let’s take a look into why so many small businesses often lack sufficient business insurance in the first place. And how a public adjuster is the ace in your hand when facing bad news from your insurance company.
Most Common Reasons Business Owners are Underinsured
1. Viewed as unimportant — As a small business owner, you’ve likely invested a significant amount of time, money, and energy into the development of your business. When you’re stretched thin, researching insurance options can seem overwhelming and unnecessary. It’s understandable that some business owners overlook the necessity of taking out a business insurance policy.
2. Considered too costly — Many small businesses take the risk of having no insurance or select bare minimum coverage instead of setting aside additional financial resources for a robust plan. For example, a business owner’s policy (BOP) offers limited protection. Typically, BOP policies only cover property and general liability, leaving major repair bills in your hands.
3. Unsure what coverage level is best — Not knowing what type of coverage you need is a common reason why small business owners find themselves with inadequate coverage. It can be difficult to understand the fine print of your current plan versus the options available, especially if your insurance provider isn’t helpful with the process.
Public Adjusters are Here to Help
It’s important to know, the right level of business insurance doesn’t always mean an optimal payout from your insurance company in the event of a catastrophe. Should you find your business facing damage or loss after a fire, flooding, tornado, or other cause, reach out to a public adjusting firm, such as SunPoint Public Adjusters, Inc. Public adjusters step in to take the pressure off of business owners by ensuring claims are managed fairly and that any disputes are negotiated/resolved to maximize recovery outcomes.
SunPoint Public Adjusters, Inc. Advocates Only for the Insured’s Benefit
SunPoint Public Adjusters, Inc. (“SunPoint”) is the “Gold Standard” of the Public Adjusting industry. We comprehensively review and evaluate your insurance settlement, immediately deploy a team of specialists to assess and quantify your damages, and customize a strategy around your personal recovery to promptly and properly maximize the resolution of your claim.
Our in-house experts and external veteran professionals are experienced in quantifying and negotiating building, personal property, inventory, or other additional coverages. We work solely on your behalf to favorably resolve your claim. Our team ensures your insurance company does not delay, diminish, or deny benefits that are rightfully owed to you. Industry authorities agree that having a public adjuster like SunPoint on your side early in the process expedites and maximizes your recovery.
Policyholders have been benefiting from our knowledge and advocacy for decades. We have handled, managed, and successfully navigated claims ranging from homeowner losses; corporate losses in the hundreds of millions of dollars; disaster losses involving government entities and entire municipalities; agricultural and recall losses, and virtually any type of disaster claim that could be imagined.
Our team of Public Adjusters, building cost consultants, inventory specialists, forensic accountants, and equipment consultants are unmatched in our industry. It is easy to be big. But it takes dedication every day to be the best – we have that dedication. Our goal is aligned with yours. To obtain a free insurance settlement assessment of your specific circumstances and recovery please contact us and strategize your optimal means of recovery.