Commercial Insurance Claims Process
Safety Comes First, Let’s Make Sure the Employees are Safe and Secure.
The policyholder has responsibilities after filing a Commercial Insurance Claim. The insured is required to take immediate action to protect their property from incurring additional damage.
“The responsibility is to mitigate the damage in an attempt to minimize the amount of the loss to both the building and financial loss related to Business Interruption”.
Example: Secure an emergency tarp for the roof and have the water extracted from the building.
The insurance claim process will take significant time, so plan accordingly. If needed, secure an appropriate temporary location for your business to continue operating.
Your policy may afford coverage for this.
The policyholder should understand the terms and conditions of the insurance policy, including coverage amounts, coverage exclusions, limitations such as co-insurance penalties, various damage valuation methods, and their duties and responsibilities for filing a claim.
There are specific forms to be completed that are time sensitive.
It’s very important that these requirements are met.
Don’t make costly mistakes!
Claim Preparation and Documentation
The claim will be thoroughly investigated by our firm. An extensive inspection will be completed and documented with photos, detailed diagrams and scope notes etc… If needed, our team of Forensic Experts such as structural engineers and or window glazing experts will be engaged.
A final estimate will be prepared and our comprehensive package including a Proof of Loss will be presented to the insurance carrier.
The claim will be reviewed in detail and adjusted by the insurance company and their experts. It is very common to have differences in the scope of work and the entire amount of the claim. Many times, additional adjuster meetings are necessary.
Insurance Claim Payments
This is a three-check process.
Actual Cash Value Payment
This is the initial payment of the undisputed amount of the claim.
This amount will be deducted from the claim and is the policyholder’s responsibility to pay to the contractor.
This payment is released once all work listed in the insurance claim has been completed. The contractor provides a final invoice only for work completed. This is the notice to the insurance company to release recoverable depreciation. You must spend all the claim funds in order to recover the entire amount of recoverable depreciation.
Mortgage companies are listed as co-payees on claim checks typically when the entire claim amount exceeds $10,000.00.
You should not proceed with any permanent restoration or repair work until you have a written agreement with the insurance company.
*The insurance company estimate, and check should be in your possession before work begins.
If replacement cost coverage applies, the actual repair and rebuild decisions will affect your recoverable depreciation and total claim recovery amounts.
Don’t Make Costly Mistakes!
We Handle All Types of Property Damage Insurance Claims
Licensed Public Adjusters for Texas, Florida & Colorado
Private Insurance Adjusters
WHO WE’VE HELPED
Residential Fire Claim
Without the help of Ches Bostick and Abba Claims our insurance claims, from losing our house and all our belongings to a fire, would not have been properly paid by our insurance company. Ches made us feel important and valued. His customer service was excellent. – Sara Nevill
Commercial Hail Claim
Abba Claims took our claim from “no damage” according to our insurance company, to obtaining an insurance settlement of over $480,000.00. We would not be able to get a proper settlement and make the much-needed repairs without the impressive and effective assistance and guidance of Abba Claims Consultants. – Betty Reichel
Commercial Hail Claim
It is with much enthusiasm and great appreciation that I am writing to recommend the services of Abba Claims Consultants, LLC. Our Association was able to successfully settle our claim. Our amazing outcome is a result of the professional assistance and guidance we received from Abba Claims. In addition, our success is due to the excellent detail and preparation of our claim. From start to finish, Abba Claims was our trusted consultant, gave us updates, assisted in vetting vendors and met with the myself and the Board of Directors as needed. Abba Claims has our trust and proved their commitment. For this reason, I am happy to recommend their services. On any other claims, Abba Claims Consultants, LLC will be my first call. – Tara Lee Jolley, Sr. Manager, Oberg Properties, Guest Quarters of Academy Place
Residential Hail Claim
We experienced a terrible hail storm that caused major damage to our home. Our insurance company fought us at every turn until we finally got smart and hired ABBA. Ches, Darik and Malerie worked tirelessly to help us through a VERY difficult time. We are very grateful for their help and consider them family after all they have done. – Daniel Miller
We provide Public Adjusting Services to homeowners & business owners across the States of Texas, Florida, Oklahoma, Colorado, Georgia, South Carolina & North Carolina.
Ches Bostick Texas Public Insurance Adjuster License #1400001
Abba Claims Consultants, LLC Texas Public Insurance Adjuster License #2003555
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