How We’ve Helped One of Our Commercial Custom Industry Customers


A commercial account also owns the adjacent house to their business location that was used as a rental property. Unfortunately the insured suffered a major loss when the rental property caught fire and was destroyed. In conversations with our insured throughout the claim they told us they were thinking of accepting a cash payout from the insurer instead of rebuilding the property. That comment caught the attention of the account rep so we decided to have a follow up meeting with the insured to discuss their options and plans for the property. During our meeting we discovered that the adjuster had been pressuring the insured to take a cash payout. The insured was advised that a payout will speed up the process of the claim and then allow the insured to make other plans for the property. During this time asbestos was found to be in the home. A financial downfall with asbestos is the additional costs of collecting and removing the product after a loss which would be subtracted from the cash payout amount. We calculated the options for the insured and discovered that if they were to take the cash payout – as advised by the adjuster – there would be shortfall in funds to cover the mortgage and the insured would be left with a vacant lot and not in an ideal financial position. Instead the insured decided to pursue the rebuilding option and has been very happy with the outcome.