How Do Commercial Storm Damage Claims Work in New York?
In the unfortunate event that your personal possessions are destroyed or stolen by an intruder, it is important that you understand your rights when it comes to filing a homeowner’s insurance claim. This starts with understanding whether you should file a residential theft claim, a residential vandalism claim, or both. Continue reading to learn how a residential theft claim is different than a residential vandalism claim and how one of the experienced New York residential theft insurance claim attorneys at Craig Blumberg can help you with this determination.
How is a residential theft claim different than a residential vandalism claim?
Put simply, theft is defined as the act of stealing one’s property or personal possessions. Examples of property or personal possessions that may have been taken from you are as follows:
- Your jewelry or watches.
- Your wallets or otherwise cash.
- Your electronics.
- Your prescription drugs.
- Your car or otherwise car parts.
This differs from vandalism, which, by definition, is the intentional act of damaging or destructing one’s property or personal possessions without their permission. Examples of ways in which your home may have been vandalized are as follows:
- An individual sprayed graffiti on your property or personal possessions.
- An individual burned your property or personal possessions.
- An individual broke your outdoor light fixtures or windows.
- An individual slashed your tires or otherwise tampered with your vehicle.
- An individual tampers with your landscaping.
Notably, acts of theft and vandalism may occur simultaneously. If this is your case, then you may be able to claim both to your homeowner’s insurance company.
How will I know if my homeowner’s insurance policy will cover my claim?
First of all, it is important that you review your homeowner’s insurance policy before bringing your theft and/or vandalism claim forward. This is because most policies place limits on how much individuals will be compensated. Examples of such limits are as follows:
- You may not be covered if your stolen or destroyed property or personal possessions were not specifically stated in your policy.
- You may not be covered if your loss of property or personal possessions did not exceed the deductible amount that your policy is subject to.
- You may not be fully covered for lost property or personal possessions that were more valuable than your policy coverage limit permits.
And so, if you learn that your homeowner’s insurance policy is subject to coverage limits, then you may have to purchase additional coverage. Examples of additional coverage plans are as follows:
- An additional $200 for money, banknotes, gold, and silver.
- An additional $1,500 for jewelry, watches, precious stones, and semi-precious stones.
- An additional $2,500 for silverware, silverplate-ware, goldware, and pewterware.
- An additional $2,500 for guns.
- An additional $1,500 for electronic apparatus.
If you require assistance with maximizing the compensation you receive, you must retain the services of one of the skilled New York property damage attorneys today.
