Blog Authors

Latest from Raizner Slania LLP

Owning a commercial property can be incredibly fulfilling; however, just like owning a home, it also comes with many challenges. One of those challenges is dealing with water damage. Knowing how to prevent and how to spot potential water damage can help commercial property owners avoid catastrophe and get back to business efficiently. Spotting Water Damage in a Commercial Property  Although seemingly harmless, water can be incredibly destructive. As many have seen with major flood events like Hurricane Harvey, extensive water damage can cause major complications for properties that can leave them unusable. Even the most well-built structures can suffer…
Commercial property insurance coverage can offer a safety net for business owners for damage caused by fire, natural disaster, burglary, or vandalism, for example. While this can provide some peace of mind, the coverage must encompass all potential threats to the property to be comprehensive. Knowing just how much commercial property damage coverage a business needs – and what particulars need to be addressed in the policy or policies – is incredibly important. Commercial Property Damage Coverage  Commercial property insurance can cover a range of potential risks associated with owning a property. These include replacement costs or repairs to a…
When filing an insurance claim for property damage due to a hurricane, it can be easy to assume that most of your loss will be covered. Unfortunately, however, insurance policies can be incredibly nuanced and exclude coverage for even the most catastrophic damage. Because of this, commercial property owners must understand what is covered under their hurricane insurance. Hurricane Insurance Coverage Commercial properties suffer major losses in hurricanes and tropical storms every year. There can be a lot of confusion when it comes to insurance companies covering damage caused by a hurricane. For starters, hurricane insurance consists of multiple…
When a business’s property is damaged to the point it needs to shut down for a period of time, it can put operations and thus revenue at a standstill. One way to work around this frustration is by having a business interruption insurance policy in place to cover overhead expenses until the property and business are up and running again. While this sounds like a simple safety net, these policies are actually quite complex and have several nuances that can easily be overlooked. Knowing how to properly file a business interruption claim can help business owners increase the likelihood of…
When a commercial property is damaged, it can cause a large amount of undue stress on its owners. Even if only a portion of the property seems affected, all areas of the property should be inspected so the insurance claim is comprehensive and accurate. In order to do this effectively, business owners should know how to calculate the value of a commercial property damage claim. Valuing Commercial Property Damage Claims  Calculating the value of a commercial property loss is similar to the process involved in determining a loss payment for a residential property. Although they have similar procedures, calculating a…
Expansive tropical cyclones or hurricanes can be incredibly devastating to both people and property. These destructive storms can cause massive amounts of wind damage, flooding, and even tornadoes after they make landfall. In the aftermath of a hurricane, many property owners will turn to their insurance companies to seek relief for any damage sustained. Policyholders might be surprised to find that insurance for a hurricane is not entirely straightforward, leaving them to ask, how does hurricane insurance work? Understanding Hurricane Insurance  When it comes to hurricane insurance, it’s important policyholders understand that there is no such thing as a true…
When a storm is on the horizon, it’s important that commercial property owners take extra precautions to prepare their structures for the worst. This is because even the mildest storm systems can still cause property damage. A building’s roof is one of the most susceptible portions of the property to storm damage. Knowing the best method to prepare commercial property roofs to withstand a storm can help businesses stay protected and avoid costly damage. Storm Roof Preparation  For commercial property owners, securing your properties before a hurricane or other natural disaster is a common step in storm preparation. However, even…
When property damage occurs, a business can suffer significant detriments to its day-to-day operations. As property owners scramble to ensure their clients and customers remain properly taken care of and any significant items or documents are intact, they could run into trouble if time lapses between the incident and when they file a damage claim with their insurer. Knowing just how long business owners have to file a property damage claim with their insurance carrier can help ensure they receive the funds they are entitled to for repairs. Filing a Property Damage Claim in Texas No matter how property damage…
Natural disasters have already caused a major impact on many different areas so far this year. The year began with a string of tornadoes across Texas, Oklahoma, and Louisiana. In February, Winter Storm Uri ravaged Texas, and, as summer began, wildfires and major heatwaves caused turmoil in the west. While these major weather events have stricken a variety of different areas, a new study shows that over half of U.S. properties are threatened by natural disasters. Nearly 60% of American Structures Are Threatened by Natural Disasters When a natural disaster strikes an area, the direct impact of it is typically…
When a natural disaster happens, the impact can ripple beyond the epicenter in many different ways. Businesses can shut down and threaten the livelihood of business owners, food and water can become scarce, and property damage can leave countless people with anywhere to go. While the aftermath of a natural disaster can be incredibly difficult to navigate, new research shows location-based data could aid in recovery efforts. New Data Could Aid in Natural Disaster Recovery As natural disasters continue to crop up across the nation and around the world, many have begun to look into how recovery methods can be…