When Disaster Strikes

Hurricanes, tropical storms, straight line winds, and tornadoes can cause devastating damage and loss to your home or business. With large loss claims, it may not be in your best interest to rely on your insurance company to adequately document the damage. You should always take your own pictures and video; thoroughly document your losses; and be careful not to throw anything away without first getting permission from your insurance company.

In large loss claims, it is also be helpful to keep a log of all conversations you have with your insurance company. Note the time, date, who you talked to and and what you talked about. Keep copies of all written communications.  Also keep copies of all receipts for services and repairs you pay for as well as for all items you replace.

Insurance Coverage

When you have an insurance claim, you should always read your policy carefully. You may have several different types of insurance coverage to help you get back up and running. Typically you will have insurance coverage for the contents of your building (including valuable papers and data); coverage to replace or repair the building structure; and coverage for business interruption to help you keep your business viable even when you are not able to operate fully or normally.You also need to understand whether you have “replacement cost coverage” or “actual cash value coverage”.

  • Replacement cost is what you would pay to rebuild or repair your property, based on current construction costs. Replacement cost is different from market value and does not include the value of your land.
  • Actual cash value is what you would pay to rebuild or replace your property minus depreciation. Depreciation is a decrease in value due to wear and tear or age. If your building is destroyed and you only have actual cash value coverage, you may not be able to completely rebuild.

Mississippi Insurance Disputes

Business insurance claims can be very complex.  Assessing the extent of the loss and figuring out what you need to get your business back in operation can be difficult. It is not unusual to have disagreements with your insurance company about whether specific items should be repaired or replaced. If you have any doubt about whether your insurance company is being fair, you should contact an experienced insurance attorney.

At Danks, Miller & Cory, we can help you recover the full value of your claim. We will help you understand the specific insurance coverage you have so that you can make the right decisions and get your business back to normal as soon as possible. Finally, we will help you negotiate with the insurance company to make sure you get the full benefit of the insurance you paid for.

Experienced “Insurance Bad Faith” Lawyers

We have the experience to walk you through the insurance claim process from start to finish. Our lawyers also have experience in successfully handling bad faith insurance claims throughout Mississippi. To set up a meeting with our team of insurance lawyers, contact us online or call us at 601-957-3101. Our offices are conveniently located at 213 South Lamar Street, Jackson, Mississippi.