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Foundation damage can be caused by storms, hurricanes, fires and plumbing leaks. Evidence of foundation damage is seen in cracks, creaky floors, sticky doors and windows, moisture, and standing water in or around the building. Foundation damage can be incredibly expensive to repair. When foundation coverage is included in your commercial insurance policy, the insurance company must act in good faith to provide compensation for foundation damage.
When a catastrophic event causes damage to a building’s foundation, insurance companies sometimes try to avoid paying what they owe. They will claim that the foundation was damaged by soil swelling, heaving, shifting and other exuses, just about anything other than an event covered under the insurance policy. It takes qualified, technical experts to combat these efforts to avoid coverage under a commercial insurance policy.
One of the arguments that insurance companies use when presented with a claim for foundation damage is that the claim is not “timely.” Courts have made it clear that the timing of notice to the carrier is based on when the insured knew of actual foundation damage and that it is the carrier’s responsibility to prove late notice was a “material breach” of the insurance policy and that the insurance company’s interests were prejudiced by the late notice. A business owner should be aware of their policy’s conditions and be sure to notify the insurance carrier of any damage as soon as possible. If an insurance company acts in bad faith, however, the lawyers at Raizner Slania can help.
The lawyers at Raizner Slania are well versed in the excuses insurance companies use to deny coverage. We use qualified experts and strong litigation techniques to hold insurance companies accountable. If your claim has been denied or your insurance carrier has been slow to settle your claim, contact our office to discuss your options.