3 Most Common Commerical Insurance Disputes

In most cases, those who have commercial insurance policies rarely have to deal with any disputes that may arise over policy coverage limits, claims, duties to defend, and other issues.  Before you reach a point where those minor setbacks could become complicated matters, make sure you are aware of these common commercial insurance problems and are prepared to avoid them.

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Among the most common commercial insurance problems is a dispute over coverage limits and what may or may not be excluded by your commercial insurance policy.  To avoid this particular dispute, make sure you thoroughly review the coverage options and exclusions before finalizing your policy.

Another common dispute for commercial insurance policy holders and insurance carriers is loss assessment.  You may value your assets much differently than your insurance carrier.  Many people often have an inflated view of what things are worth, but everything depreciates over time and can also lose value depending on a variety of circumstances.  Your insurance carrier has access to individuals who make professional valuations for a living, so don’t let a layman’s assessment get in the way of a skilled one.

Lastly, a common commercial insurance dispute that can frequently be avoided is one that involves a breakdown in communication.  Be sure you understand precisely what your insurance agent is explaining to you and make sure you ask as many questions as possible to ensure that you have a good grasp on all the facets of your coverage.  Also make sure that your insurance carrier understands what you want and what your expectations are, so you can avoid disputes in the future over simple communication differences.

Learn more about commercial insurance when you contact us at Schumacher Insurance Group today!

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About Schumacher Insurance Agency

Why trust us? What do we do different than every other insurance agency? Consider this an invitation to get to know us. We believe we are an exceptional team of protection specialists that work hard to do things the right way, to educate our clients on insurance, and make the experience effortless. We are excited to introduce a new insurance experience for our customers. We encourage you to speak with our team who can show you how different we are… from text messaging services for late payments to educational insurance concepts on Facebook. We will prove our innovative approaches to obtain the proper coverage’s for you, your family, your business. Insurance is likely not the most interesting affair for everyone, but it is most certainly ours! Yes, we are insurance geeks!

Posted on August 24, 2014, in Agency and tagged , , . Bookmark the permalink. Leave a comment.

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