Understanding Property Damage Claims in New York City

Understanding Property Damage Claims in New York City

If you are someone who has recently experienced property damage, either residential or commercial, you are most likely wondering about where to go from here. Please continue reading to learn more about property damage and how our experienced New York City insurance law attorney can help you.

What should I do if my residential property was vandalized?

While you may have insurance coverage for theft or vandalism, unfortunately, many standard policies have limits as to how much the insurance company will pay. For example, if you had certain items stolen or destroyed that were not documented in your policy, you may not receive coverage for that loss. Also, in many cases, you may also have to pay deductibles, and your coverage may have additional limits. If your loss does not exceed the amount of your deductible, you may not receive coverage. Furthermore, if you are subject to coverage limits on jewelry, antiques, money, artwork, electronics, or other types of valuables, you may have to purchase additional coverage.

That being said, if your residential property was recently burglarized or vandalized, you should call the police, and from there immediately send that police report to your insurance company, thus proving you were robbed/vandalized. However, if you’ve had items stolen, your insurance company may require you to document and prove which items were stolen. This is why it is always best to take a video of all property you own before such a devastating event occurs. Insurance companies are businesses, and they may try and severely limit the compensation you receive, which is why it is always best to retain the services of an experienced New York City insurance law attorney before moving forward.

What should I do if my commercial property was vandalized?

If your business has been robbed or vandalized, you must document the incident as soon as possible. This means calling the police, and from there, obtaining additional documentation that can prove you/your business owned all the items you report to be stolen. If you do not have this documentation, you may have to catalog all items lost and obtain any information you can to prove that you owned those items. Additionally, coverage limits are another huge obstacle business owners will have to jump. For example, if your policy does not cover the true value of your business’s property, you will have to retain the services of an experienced New York City property damage attorney before filing your claim to ensure you have a complete understanding of your theft coverage. Our firm is ready to help you through every step of the process ahead so you can have peace of mind knowing your property is well-protected.

Contact our experienced New York City firm

The Law Office of Craig A. Blumberg is an experienced New York City insurance law firm. If you require quality assistance after having suffered a property loss due to a fire, a flood, a severe storm or a robbery, please do not hesitate to contact our firm to schedule a free initial consultation. A knowledgeable attorney on your side in your time of need can make all the difference.