Has Your Grocery Store Insurance Claim Been Denied?
A great many commercial businesses, including supermarkets and grocery stores, are located in disaster-prone areas, so they tend to purchase business interruption and other types of commercial property insurance coverage for things such as food spoilage coverage, just in case natural disaster strikes and causes significant damage to the grocery store. The purpose of the insurance is to make it possible to continue to conduct business during and after a disaster.
However, what happens when the insurance company denies your business interruption, food spoilage, or other insurance claim in the wake of a storm or major plumbing failure that causes severe damage or flooding to your business? This happens more often than you think; even if you have wind, food spoilage, property, and business interruption insurance, the carriers of these policies will often try to come up with ways to deny or delay payment on your type of grocery store insurance claim, costing your grocery store dearly, as store stocks go bad and your business suffers.
There are reasons why grocery stores carry this type of coverage; in Texas, they often suffer serious damage due to plumbing breaks, fires, storms and other natural disasters, and they need to get back on their feet quickly. Grocery stores have a unique problem that many other businesses don’t have, in that many of the products they sell are perishable; besides food that needs freezing and refrigeration, there are many products that become inedible if they become wet, or mold forms, which makes food spoilage insurance coverage necessary. Many grocery store and food market owners purchase food spoilage coverage to protect their business against this type of risk. Also, if damage to equipment or machinery occurs, a grocery store won’t be able to restock sufficiently until those can be replaced.
When a grocery store suffers a loss, it may not be possible to function properly, and they may lose inventory, customers and profits. It is absolutely essential that a grocery store get relief quickly and be treated fairly. When an insurance carrier fails to respond in a timely manner, it can be devastating to a grocery business; any wind, food spoilage, property, or business interruption or other type of grocery store insurance claim that is either delayed, underpaid or wrongfully denied can have serious consequences.
When that happens, the grocery store’s owner should speak to one of the knowledgeable and experienced insurance claim attorneys at Raizner Slania, so they can appeal the denial and fight to get your business you the fair compensation you expected when you took out your insurance policy. This is a particularly important step if the delays and bad acts of the insurance company resulted in lost customers, sales and profits.