Business Property Claims

Home/Insurance Claims/Business Property Claims
Business Property Claims 2017-06-21T17:29:56+00:00

Business Property Claims in Texas


A business may experience property damage from a fire, a tornado, a hurricane or other natural disaster. Most businesses have insurance policies to protect them from unanticipated property damage. If the unexpected occurs, you expect that your insurer will act reasonably and make your business whole again. A business may file a first-party claim with the insurer to be compensated for property damage, but the insurance company may deny the claim or try to minimize the payment.


If your own insurance company disputes your property damage claim, your business may have to file a first-party lawsuit against the insurer to obtain the compensation you are rightfully due. Contact a property insurance claims attorney experienced at handling first-party insurance claims. At Wyly & Cook, PLLC , based in Houston, Texas, we are committed to helping people and businesses that have a dispute over a first-party insurance claim.


Most businesses try to protect themselves against unanticipated losses by having property and casualty insurance policies. Filing a claim with your own insurance company after a commercial property loss is known as a first-party claim. Even though your business has paid the insurance premium, a first-party claim may result in an unexpected denial of insurance benefits. Insurance companies often try to minimize their payouts on claims and may initially deny your first-party claim or make a low initial offer to settle your commercial property claim.

As a general rule, commercial property insurance policies cover loss of property and loss of income due to damage to property. First-party commercial property policies may insure businesses against losses from all risks or from specifically identified losses called “named perils.” A named perils policy may be written to apply to the types of hazards present in a given type of business. Commercial property may include real estate, buildings, equipment, machinery and inventory.

First-party business property policies also may cover the loss of business income resulting from interruption of business caused by damage to the property. The experienced Houston insurance claims attorney at Wyly & Cook, PLLC , can help you identify business interruption losses caused by service interruption, cancelled contracts, payroll impacts and other losses. You may have clean-up costs or demolition costs as part of a business loss claim after a natural disaster, windstorm or fire.


If insurers miss deadlines for acknowledging a first-party claim or accepting or denying a first-party claim, the insurance company may be subject to penalties. The insurance company must pay you within five days after notifying you that your claim is approved or state in writing the reason for denying your claim. An insurance company may be sued for acting in bad faith for delaying payment of your first-party claim when it’s reasonably clear the company is liable.

At Wyly & Cook, PLLC , we believe that businesses should receive full value on their first-party claims. Attorney Wyly is licensed in New York, in addition to Texas, and can help businesses file claims for damage caused by storms. Insurance companies are legally required to respond promptly to policyholders who file first-party claims.

Contact us today to discuss your rights and options to recover the damages you are entitled to!