Commercial - Premier Claims

Vandalism – a term that, unfortunately, is all too familiar to commercial property owners. Acts of intentional damage can bring about significant financial consequences. But understanding the different forms of vandalism can go a long way in minimizing their impact. From a sociological perspective, vandalism isn’t a monolithic concept. It assumes various forms, each presenting its unique challenges. Understanding the motives behind these destructive acts, as outlined by renowned sociologist Stanley Cohen, can guide you in better protecting your property and minimizing your financial risk. Let’s explore these seven types of vandalism and see how commercial property owners can stay prepared:

1. Acquisitive Vandalism: A Threat to Your Valuables

Acquisitive vandalism, characterized by the act of destruction to acquire goods or money, poses a significant threat to businesses. For instance, a burglar might break a window to steal merchandise. As a property owner, installing secure locks, surveillance cameras, and alarm systems can deter such actions. Insurance policies covering theft are critical in this scenario.

2. Tactical Vandalism: Unwanted Attention

Tactical vandalism is about getting noticed. Protestors might deface property to draw attention to their cause. While it’s tough to predict such occurrences, maintaining a neutral stance in controversial matters can keep your property out of the firing line. Vandalism coverage in your property insurance policy can provide the needed safety net.

3. Ideological Vandalism: Making a Statement

This form of vandalism arises when political, religious, or social ideologies come about. Insurance that covers acts of vandalism can safeguard your property against the financial impact of such acts.

4. Vindictive Vandalism: When Personal Becomes Professional

Vindictive vandalism stems from personal vendetta and spite, and can unexpectedly land at your doorstep. Making adequate security measures and a robust insurance policy are essential.

5. Play Vandalism: Destructive Fun

Play vandalism is destruction for fun, often by kids or teenagers. For instance, ensuring your property is well-lit and investing in high-quality security systems can make it less attractive to these mischievous thrill-seekers. Furthermore, a comprehensive insurance policy will help cover the costs of any damages.

6. Malicious Vandalism: The Love for Chaos

Malicious vandalism lacks concrete motive beyond the desire to create chaos. An individual who lights a fire in a public park with no particular motive other than to watch things burn would be engaging in malicious vandalism. Enhanced security, vigilance, and insurance coverage are necessary to shield your business from such random acts.

7. Epidemic Vandalism: The Domino Effect

Epidemic vandalism involves large-scale destruction triggered by a specific event like a sports victory or political unrest. Here, the best defense lies in a good offense. Proactive security measures, along with an insurance policy that covers riot damage, are essential.

Understanding the seven types of vandalism not only provides insight into the potential risks but also guides you in selecting the right insurance coverage to protect your business assets. This knowledge empowers commercial property owners to minimize their financial risk and safeguard their businesses against unforeseen damages. Remember, the cost of an insurance policy is insignificant compared to the financial burden of an unexpected vandalism event.

Protect your business, prepare for the future, and ensure peace of mind by recognizing and preparing for these seven faces of vandalism.

As hurricane-prone regions brace themselves for another potentially intense season, recent news about insurance carriers making policy changes has raised concerns among policyholders. In a surprising move, Farmers Insurance is no longer serving Florida policyholders, leaving thousands of residents in search of new coverage options. This decision serves as a stark reminder of the importance of reviewing your insurance policy before hurricane season arrives.

“Florida requires affected policyholders to receive a 120-day notice that their policies aren’t being renewed,” Ramishah Maruf, CNN. According to the state’s regulations, this provision ensures that homeowners have ample time to prepare and seek alternative coverage options before their existing policies expire. The non-renewals will play out over several months.

The Business Decision Behind Farmers Insurance’s Exit:

Farmers Insurance explained its decision to exit the Florida market as a necessary step to manage its risk exposure in the hurricane-prone state. While “Farmers is the 11th company to pull out of Florida since 2019. Farmers’ decision affects more than 100,000 customers,” Dave Elias, NBC. Individuals utilizing Farmers Insurance’s owned subsidiaries, such as Foremost Signature and Bristol West, will not experience any disruption in coverage. It is crucial for policyholders affected policyholders by the termination to review notifications and explore replacement coverage options.

Insurance Challenges in Florida:

Farmers Insurance’s departure highlights the challenges faced by insurance companies operating in Florida. Over the past 18 months, numerous insurers have imposed moratoriums on new policies, while others have voluntarily withdrawn from the market or faced insolvency. The situation is exacerbated by a legal system that some insurers claim encourages litigation abuse and excessive claims, leading to financial strain within the industry.

The Need for Legal Reforms:

Recognizing the need for change, the insurance industry successfully advocated for reforms aimed at curbing litigation abuse. Despite these efforts, insurers’ outlook remains uncertain due to the surge in lawsuits filed before the new laws kicked in. Nearly 300,000 lawsuits have flooded the marketplace, creating an enduring challenge that may force regional insurance companies out of business. While legal reforms have been implemented, market conditions continue to pose a significant challenge.

Florida’s Vulnerability to Hurricane Damage:

Florida’s geographical location and low elevation make it particularly susceptible to hurricane damage. As the Atlantic hurricane season approaches, it is crucial for homeowners to assess their insurance coverage adequately. The National Oceanic and Atmospheric Administration predicts a normal hurricane season this year, but there is still a 30% chance of an above-average season. The devastating impact of hurricanes in recent years, such as Hurricane Ian, which caused $114 billion in damage, serves as a stark reminder of the importance of being prepared.

Reviewing your insurance policy before hurricane season is crucial to ensure you have the necessary coverage and avoid potential disruptions. Farmers Insurance’s decision to exit the Florida market is a reminder for property owners to stay vigilant. By staying informed and considering replacement options if needed to protect your property during hurricane season. Remember, being proactive can make all the difference when it comes to safeguarding your property against potential storm-related risks.

In light of Farmers Insurance no longer serving Florida policyholders, Premier Claims understands the concerns and challenges faced by policyholders. With hurricane season approaching, it’s crucial to have the right coverage for your home and belongings. We recommend a third-party expert review of your policy. If you’re a Farmers Insurance policyholder, explore new coverage options well before your policy expiration date.

A new law, signifying a significant development for policyholders in Louisiana, has passed, forbidding property insurance policies from containing provisions that deny an insured individual’s right to hire a public adjuster. Before the introduction of this new law, insurance policies with anti-public adjuster clauses prevented policyholders from hiring a public adjuster. The legislation aims to provide all policyholders and businesses with greater control and expertise in navigating insurance claims.

On June 12, 2023, Louisiana Governor John Bel Edwards signed into law a bill from Sen. Royce Duplessis, D-New Orleans, and Rep. Ray Garafalo, R-Chalmette, that prohibits insurance carriers from inserting anti-public adjuster clauses into property insurance policies. The new law (SB156) in Louisiana will take effect on August 1, 2023, and allow all policyholders to hire public adjusters.

Benefits for Policyholders:

Removing the anti-public adjuster clauses is a significant win for policyholders in Louisiana. Here are some key benefits that policyholders can expect:

Expertise and Representation:

Licensed professionals with in-depth knowledge of insurance policies and claims processes, public adjusters actively operate. They can assess the full extent of damages, and strive for fair compensation per the policy.

Time & Stress Reduction:

Navigating an insurance claim can be a complex and time-consuming process. By engaging a public adjuster, policyholders can offload the burden of handling paperwork, documentation, and negotiations. This allows them to focus on other important aspects of recovery, such as restoring their property or business.

Maximizing Claim Settlements:

Public adjusters skillfully value losses accurately and ensure fair compensation for policyholders. They can help policyholders avoid potential underpayments or claim denials, leading to maximized settlements.

Rules and Regulations for Public Adjusters in Louisiana:

While the new law in Louisiana enables policyholders to hire public adjusters, it’s important to understand the existing rules and regulations governing their operations. Here are some key points to note:

Licensing:

Public adjusters in Louisiana are required to obtain a license from the Louisiana Department of Insurance (LDI). Additionally, the licensing process involves meeting certain criteria, including background checks and the successful completion of an examination.

Fee Limitations:

Public adjusters charge fees for their services, typically calculated as a percentage of the insurance claim settlement. In Louisiana, these fees are regulated and should conform to state guidelines. Policyholders should discuss fee arrangements with the public adjuster before signing any contract.

Contractual Agreements:

Public adjusters must provide written contracts to policyholders, outlining the terms and conditions of their services. The contract must clearly state the fees, scope of work, and any additional expenses that policyholders may incur during the claims process.

Prohibited Activities:

Public adjusters are prohibited from participating in any deceptive or fraudulent practices. Furthermore, they have a fiduciary responsibility, must act ethically and in the best interests of the policyholders they represent. Violations of these regulations can lead to disciplinary actions by the LDI.

Louisiana’s new law granting policyholders the ability to hire public adjusters is a significant step toward empowering individuals and businesses when dealing with insurance claims. With the expertise and representation provided by public adjusters, policyholders can expect a smoother and more favorable claims experience. By leveraging this new legislation, policyholders can navigate the complexities of the insurance world with confidence, knowing they have dedicated professionals on their side.

Premier Claims Louisiana #765044

Is your property at risk of hail damage?

Knowing how to identify hail damage and the signs can save you time, money, and a lot of headaches.

Our expert team has put together an invaluable video guide that walks you through the process of how to identify hail damage on your property. From common indicators to safety precautions and essential tools, this video is a must-watch for anyone concerned about the integrity of their property following a hailstorm. Don’t miss out on these expert insights—watch now to protect your investment!

https://www.youtube.com/watch?v=US8M-_aZEUM

For more articles related to hail damage, check out the following:

The Impact of Hail: Understanding Size, Formation, and Damage

Importance of Acting Promptly After a Date of Loss

Hurricanes are among the most destructive natural disasters, bringing devastatingly high winds, heavy rainfall, and storm surges that can cause widespread damage and loss of life. These powerful storms can strike coastal areas and inland regions with little warning, and leaving residents with only a short amount of time to prepare. In this blog, we’ll explore the dangers & tips for a hurricane so that you can weather the storm.

Dangers

Understanding some of the most severe dangers posed will better prepare you for anything the storm throws your way.

- Devastating Winds: A hurricane can be accompanied by strong winds up to 200 miles per hour. These winds can cause significant damage to buildings or completely destroy them. Vehicles, infrastructure, power lines, and trees are all susceptible to immense damage and can become airborne, which poses its own dangers.

- Heavy Rainfall: Alongside devastating winds, hurricanes bring flood-inducing rains potentially causing landslides. Rising sea levels have provided hurricanes with an ample supply of water to produce monstrous storm surges.

- Storm Surges: When water level rises dramatically at abnormally high levels storm surges occur and they have the ability to travel several miles inland. Storm surges wreak havoc and leave destruction for miles.

In the aftermath of Hurricane Ian, Governor DeSantis of Florida surveys the destruction that spread across Fort Myers. In an interview with BBC, DeSantis comments, “To see a house just sitting in the middle of Estero Bay, literally must have gotten picked up, flown because of the massive wind speed and the storm surge and depositing in a body of water.”

Tips

It’s clear hurricanes are forces to be reckoned with, destructive, dangerous, and downright terrifying. For your safety, it is important to properly prepare and have plans in place.

- Evacuate: If local authorities have given the order to evacuate, listen and follow the prescribed protocols. Don’t wait.
- Supplies: Stock up! The time to prepare is before the storm (previous post link). This is important whether you evacuate or stay, but it’s all the more crucial if you weather the storm. You need several days, to weeks, of supplies to be prepared.
- Secure your Property: If you haven’t read our Day 3 Post for Hurricane Preparedness Week, Review Your Policy– We discuss the importance of reviewing your policy and why it’s important to not only protect your property from potential damage, but document it.
- Stay Informed: Always have access to current weather information from your local authorities and the National Hurricane Center. FloridaDisaster.org recommends an NOAA Weather Radio that is battery operated or hand cranked. For a downloadable checklist, click here!
- Stay Indoors: The volatility of a hurricane poses too high a risk to venture outdoors once the hurricane hits. Avoid windows and doors.

Be informed and prepared to endure the devastatingly high winds, heavy rainfall, and storm surges hurricanes bring. Widespread damage will be imminent. However, employing these tips and knowledge about this destructive natural disaster gives you the best chance at safety and security. For more information on the dangers & tips for a hurricane, please visit Prepare before the storm.

To protect yourself in the event of a future hurricane, one of the most important ways you can prepare is by reviewing your policy coverage. For Hurricane Preparedness Week, we will outline a few of the key aspects to consider in your policy: deductible, building coverage, and the importance of inspecting your property with photo documentation.

Deductible

Hurricane coverage deductibles are either be a fixed dollar amount or a percentage of the insured value. Percentage deductibles are more common as they will not increase premiums as much as a fixed dollar amount deductible. However, if you’re located in a hurricane prone area, it is crucial to know what type of deductible is in your policy and the financial responsibility you would have if a hurricane damaged your property.

For instance, say you have $400,000 in coverage to your building and your policy has a 2% deductible. After a hurricane, your insurance claim is settled at $50,000 for property damage, but you receive a check for $42,000 — You’re responsible for paying the percentage deductible of $8,000 out-of-pocket to restore your building.

Reviewing Policy (1)

Building Coverage

Building coverage is an essential part of any policyholder’s insurance policy. It provides protection for the structure of your home, including the roof, walls, foundation, and other structures such as a garage or shed. In the event of a hurricane, this coverage will help you repair or rebuild your home if it is damaged.

The amount of building coverage you need will depend on a variety of factors, including the size of your home, the materials it is made of, and the cost of construction in your area. As a general rule, you should have enough coverage to rebuild your home from the ground up if it is completely destroyed. An Actual Cash Value policy pays what your property is worth today, whereas a Replacement Cost Value policy will pay the cost to repair or replace your property without deducting for depreciation. To learn more, visit our blog “What is Recoverable Depreciation?”

Flood Damage Insurance

Another factor to consider when purchasing building coverage is whether your policy includes coverage for flood damage. Flooding is a common occurrence during hurricanes, and it can cause significant damage to your home. If you live in a flood-prone area, you may want to consider purchasing a separate flood insurance policy to ensure that you are fully protected.

Coverage Limits and Exclusions

When purchasing building coverage, it’s important to read your policy carefully and understand the coverage limits, and exclusions. For instance, a roof exclusion could specify that the insurance carrier will not pay for damages to the roof as a result of wind or other events, such as a hurricane. A cosmetic exclusion could put you at risk of having to justify the necessity for repairs or replacement if the insurance carrier classifies the damage as cosmetic.

Policy Requirements

You should also be aware of any requirements your insurance company may have for hurricane preparations, such as installing storm shutters or reinforcing your roof. Failure to do any hurricane preparations can put you at risk for a denied or underpaid claim. Read more in yesterday’s blog, “Prepare before the storm”

Property Current Condition

One of the most important steps that is often overlooked by policyholders is to get their property inspected and take pictures before a hurricane hits. Doing so can provide solid evidence of the condition of their property before the hurricane and make it easier to assess the damage caused by the hurricane.

Here are a few reasons why it is essential to get your property inspected and take pictures before a hurricane:

Documentation of property condition: By getting your property inspected and taking pictures, you can document the condition of your property before the hurricane. This can be helpful when filing a claim with your insurance carrier, as it provides clear evidence of the state of your property before the storm hit. This includes documenting and taking pictures of personal property that is included in your policy.
Evidence of damage: By having pictures of your property before the hurricane, you can provide solid evidence of the damage caused by the hurricane. This evidence can help expedite the process and ensure that you receive the compensation you deserve.
Accurate assessments: By having pictures of your property before the hurricane, you can ensure that inspectors and adjusters have an accurate picture of the extent of the damage caused by the hurricane. This is critical when negotiating estimates and showing every aspect of the structure that needs to be repaired or replaced per your policy.

The Good News

Our team provides free policy reviews and property inspections. If you have concerns over your current insurance policy, our team of legal experts will complete a thorough review and outline potential gaps in coverage or risks. Our inspection & adjusting team will gather the necessary documentation and pictures required prior to any hurricane damage. In addition, we will continue to monitor your property, and in the event you experience severe damage, we begin the claim process on your behalf immediately to get you paid faster. Contact us today to get your free policy review and inspection!

Being Hurricane Preparedness Week and with hurricane season quickly approaching, it is important you and your family are prepared by planning ahead. To prepare before the storm, we suggest focusing on four areas: Hurricane information & evacuation plan, strengthening your home & business, updating & reviewing your insurance policy, and stocking your supplies.

Hurricane Information & Evacuation Plan

If you live in a hurricane prone area, it is critical that you have a list of ways you can get trusted hurricane information readily available. We suggest bookmarking National Weather Service, Ready and national news outlets on your mobile devices for immediate access to information. In addition, social media can be a great source of real time updates — Join the latest Facebook group for the named Hurricane to receive multiple updates from various sources.

For your safety, planning a general evacuation plan and knowing alternative routes can save you time and stress when a hurricane strikes. When a hurricane is approaching, make sure you communicate your evacuation plan with someone else outside of the storm’s path.

Corner business with windows boarded up

Strengthen Your Home & Business

Take a walk around your home and your business and look at areas that may be vulnerable in the event of a hurricane. Trimming trees regularly can help prevent excessive broken branches that can cause damage. Minimizing the number of outside loose items, such as patio furniture & recreational equipment, will reduce the amount of time you need to properly secure the items prior to the storm hitting. In advance, we recommend having the necessary materials to board up any windows to protect them from flying debris.

If you have not had your roof or property inspected in the past 12 months, we recommend having a contractor or public adjuster confirm the structural integrity of your roof and home. The inspection will include photos and documentation of the current condition of your home. Should your home experience damage during a hurricane, the inspection documentation will be crucial evidence in getting your home back to its prior condition. We offer free home inspections — Give us a call today to schedule!

Update & Review Your Insurance Policy

We recommend having your insurance policy reviewed by a third party for a detailed review of coverage. Flooding is the leading cause of damage from hurricanes and many policyholders in hurricane prone areas are not required to have this coverage. In addition, your insurance policy may outline specific preparation steps that are required in order to ensure damages are covered. Our team of legal experts provide free policy reviews and will outline any gaps in your current coverage, and what steps must be taken prior to the storm hitting per your policy. If you’d like to have your policy reviewed — Contact us or send your policy to info@premier-claims.com.

Prepare before the storm Hurricane Preparation Checklist

Stock Your Supplies

Waiting until the hurricane is announced to stock your supplies could put you at risk of being unable to obtain the emergency supplies you need. According to Chuck Duncan, a Florida Ace Hardware employee in a local interview with CBS 4 News, says it is normal for residents to wait until the announcement before they head to the stores for supplies: “Usually within a few days after it comes out that it [the hurricane] is coming this way, they start coming in.”

During and after a hurricane, you may need supplies to keep your family safe and healthy. However, once a hurricane is announced, there is a mass surge of people going to stores and supplies are limited. We recommend gathering supplies early in the season in May or June prior to a potential hurricane hitting land. You can be prepared by including the following:

Emergency supply of food & water
Emergency first aid kit & medicine supply
Emergency power sources, such as flashlights, batteries, charges, etc.
Safety & personal items
Important documents, such as medical documents, passports, policy documents, etc.
Tools & equipment for safety, such as fire extinguisher, pocket knife, etc.

For a full list of items you may need, you can find a checklist here: Download Checklist

Hurricanes are costly and can cause damage hundreds of miles from the shore. Being prepared ahead of time can be critical for your safety and recovery after the hurricane. Continue to follow us this week for more information and resources to prepare for this upcoming hurricane season!

Additional Resources

Florida Disaster
CDC Preparing for a Hurricane
National Weather Service Hurricane Plan

May 1st through the 7th is National Hurricane Preparedness Week. If you don’t live in an area prone to hurricanes, you probably haven’t given them much thought. However, if you live in Florida or the surrounding area, chances are hurricanes have impacted your life in one way or another.

How did Hurricane Preparedness Week start?

Prior to 2004, Hurricane Preparedness Week had been known as Hurricane Awareness Week. The first Hurricane Warning Service originated in Cuba and was adopted by the United States Weather Bureau during the 1870s. On June 1, 1956 the National Hurricane Center was founded in Miami, Florida.

The change from Awareness to Preparedness was an initiative to encourage communities to be prepared prior to a hurricane hitting land. Costing billions of dollars in damages every year just in the United States alone, hurricanes are considered one of Mother Nature’s most destructive events worldwide.

Outside of the United States, hurricanes are often referred to as typhoons or tropical cyclones. Other countries, such as China, experience the same destructive forces and are reported to have the most typhoons annually than any other country in the world.

With continual changes in weather patterns and rising sea levels, hurricanes will continue to be destructive storms hitting our coast. As a community, we hope we can use this week to educate our neighbors on preparing before the hurricane, how to stay safe during the storm and what to expect following a devastating hurricane.

Follow us this week as we continue to cover different topics and provide resources to prepare for this upcoming hurricane season. If you’re still battling your insurance claims from prior hurricanes, please reach out to our team members to help get you the support you need: click here.

Additional resources:

National Today Hurricane Preparedness Week,

National Weather Service Hurricane Preparedness Week

NOAA: National Hurricane Preparedness

Ever wondered what goes into a scope inspection for hail damage?

Our latest video guide takes you behind the scenes of this critical process. Conducted by our team of seasoned experts, the scope is designed to identify all forms of hail damage on your property—from dented metal surfaces and cracked windows to damaged roofing materials. We’ll walk you through how the inspection is carried out, the types of hail damage we’re looking for, and the advanced tools we use to ensure nothing is overlooked.

Don’t leave your property’s health to chance; watch now to understand how a thorough scope can protect your investment.