How To Navigate Insurance Coverage Disputes

Coverage disputes can be expensive, time-consuming, stressful and confusing. The following measures can help businesses navigate these challenges effectively:

• Thoroughly review insurance policies. Business leaders should carefully review their insurance policies and ensure they understand key terms, exclusions, coverage periods, premium payment timelines and other obligations. Understanding the scope of coverage and any limitations can help avoid misunderstandings.
• Document everything. Insureds need to maintain a thorough record of a loss, including how the loss occurred, the nature and extent of the damage or loss, and details of the claim submission. Documentation can be crucial in demonstrating that a claim is valid.
• Use supporting evidence. Photos, expert reports, videos and other documentation can strengthen a claim and clarify the submission, making it more difficult for an insurer to dispute.
• Utilize the insurance broker or agent. Brokers and agents can act as valuable intermediaries with the insurer, helping to clarify coverage details and advocating on behalf of the insured. They can also provide guidance on submitting claims and appealing denied claims, drawing on their expertise.
• Communicate clearly and promptly with the insurer. Clear communication from the start can lessen the chances of misunderstandings. Such communication includes setting expectations and timelines for resolving the dispute. Keeping all communications documented in writing is essential, as it can serve as evidence in case the dispute escalates.
• Consider hiring legal counsel. Experienced insurance attorneys can assist in interpreting the policy language, negotiating with the insurer and guiding businesses through complex claims. Legal counsel is particularly valuable when a dispute involves significant amounts of money or complicated policy language.

For more information about business insurance and a review of your current insurance coverages, contact us today.

Common Causes of Insurance Coverage Disputes  

How To Navigate Insurance Coverage Disputes

How To Resolve Insurance Coverage Disputes

How To Avoid Insurance Coverage Disputes