A guide to commercial property claims

Identify the insured property and business interests

A commercial loss can involve the building owner, tenant, association, lender, and more than one policy. Begin with the named insured, insured locations, covered property, and the person authorized to provide information. Lease responsibilities and insurance coverage should be reviewed separately.

Separate physical damage from operational impact

• Document building damage by location and component with photographs and inspection findings.
• Inventory damaged equipment, stock, and business personal property, identifying ownership and valuation records.
• Keep mitigation, temporary relocation, and repair invoices itemized.
• Record closure dates, affected operations, mitigation efforts, and the reason each activity was interrupted.
• Preserve relevant sales, payroll, expense, and historical financial records securely.

Business-income or extra-expense coverage depends on the contract's triggers, terms, exclusions, limits, and period of coverage. A sales decline alone does not establish the covered amount. A qualified accountant or other specialist may be needed to support the calculation.

Coordinate the claim record

Designate a contact to track insurer requests, document submissions, inspections, and outstanding questions. Keep separate locations and coverage categories identifiable so reviewers can reconcile estimates, invoices, and payments. Do not combine different insured entities or losses without explaining the relationship.

Start with the actual dispute

Whether the issue is building repair scope, stock valuation, operational impact, or a coverage decision, collect the supporting policy and records before selecting a response. Request a commercial property review and describe your role, affected location, and the main unresolved question. Representation and specialist costs should be understood before engagement.