What's Happening?
Winter Storm Fern has caused significant damage across over 30 states, impacting approximately 230 million Americans. As the storm's aftermath unfolds, businesses are urged to take immediate steps to secure their insurance claims. Key actions include
thorough documentation of damages, prompt notification to insurers, and mitigation of further damage. Businesses are advised to document all damage with photographs, videos, and written inventories, ensuring that timestamps and GPS data are included. Promptly notifying insurers and obtaining a claim number is crucial to maintaining coverage. Additionally, businesses must take reasonable steps to prevent further damage, such as making emergency repairs and securing premises. The guidance emphasizes the importance of not discarding damaged items until inspected by an adjuster and obtaining professional inspections for hidden damages.
Why It's Important?
The guidance is critical as it helps businesses navigate the complex process of filing insurance claims after a major storm. Proper documentation and timely communication with insurers can prevent claims from being denied or underpaid. This is particularly important given the potential for another storm and the ongoing winter season. Businesses that fail to follow these steps risk financial losses and prolonged recovery times. The advice also highlights the legal obligations of businesses to mitigate further damage, which can affect the outcome of insurance claims. By following these guidelines, businesses can better protect their financial interests and ensure a smoother recovery process.
What's Next?
As the winter season continues, businesses should remain vigilant and prepared for additional storms. This includes maintaining up-to-date documentation of any new damage and continuing to communicate with insurers. Businesses may also need to seek professional assistance if they encounter issues with their claims, such as denials or low settlement offers. The potential for further storms underscores the importance of ongoing preparedness and proactive measures to protect property and financial interests.
