Commercial Property Insurance Disputes

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What is Property Insurance in a Business Setting?

In a business setting, property insurance may protect the business from losses associated with company property, buildings, and other assets.  This is usually designated as “commercial property insurance”.  Commercial property insurance is one of the two major types of commercial insurance, with the other being general liability insurance.

What Does Commercial Property Insurance Usually Cover?

In most cases, commercial property insurance covers most real property, and other items that are associated with normal business operations.  They usually cover losses to such items that occur as a result of reasonably foreseeable circumstances, such as theft, vandalism, and some natural disasters like earthquakes, storms, and fires. 

Commercial property insurance usually covers the following types of business property:

So, commercial property insurance packages usually cover these and other items that are used in the normal course of business operations. The insurer and the insured business can also negotiate for the coverage of more specific property items like company cars.

What are Some Common Commercial Property Insurance Disputes?

Commercial property insurance disputes can arise if the parties aren’t clear as to some of the different terms or policies.  For example, some common commercial property insurance disputes may involve:

Thus, one of the main sources of dispute with regards to commercial property insurance is the expectation of what will be covered and what won’t.  In most cases, such disputes can be avoided by a thorough review of the insurance contract, with necessary edits being made as needed before signing.  This may require the skill and expertise of a lawyer. 

Do I Need a Lawyer for Help With Commercial Property Insurance Disputes?

Commercial property insurance disputes may often have to be resolved in court through a civil lawsuit.  In most cases, the advice of a lawyer is needed to deal with the various laws and items of evidence involved in such a case.  If your business is involved in any commercial property insurance disputes, you should contact a business lawyer immediately.  Your attorney can help instruct you regarding your legal options, and can represent you and your interests in a court of law.

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Last Modified: 09-19-2012 02:53 PM PDT

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