One of the more stressful aspects of your commercial property insurance policy may be the ‘exclusions’. This term could make or break a claim depending on each situation and how it is reported. At Haylor, Freyer & Coon, Inc. it is our job to ensure that your exclusions do not get in the way of business as you know it. There are, of course, times when the exclusion is the final say, but there are also many times in which the situation warrants an investigation and review of events. Haylor has many success stories when it comes to working around the exclusions… here is one story that proves the commitment to our clients:
Rust and corrosion had caused a spyder crane to be rendered inoperable. The construction company that had rented this piece of equipment filed an insurance claim because the damage had happened while they were using the crane. The insurance company came back with a denial because of an exclusion for damage caused by corrosion. This $60,000 loss would have been a significant hit to the finances of the construction company and they needed to re-evaluate the claim with a reputable source. They trusted Haylor to go over the situation with a fine tooth comb. What the Haylor Claim Advocate Team uncovered was that the damage was caused by a single accident were the crane fell into a salt pit on the jobsite. The corrosion was not caused by long term exposure to water or elements. Rather, the damage occurred due to an accident at a jobsite. The Haylor Team argued for coverage with the documentation that supported the claim and was successful in convincing the insurance company to reverse their coverage decision. Over $60,000 was paid out for the damage to the crane.
Unfortunately there are many claims that fall through the cracks because of the terminology or understanding of the exclusions in your coverage. Working with a company like Haylor can help to eliminate confusion and decrease stress when it comes time to file a claim. We are here to insure all that you value.