The Importance of Business Inventory Assessments

After the horrific damages caused by hurricanes, many business owners are left with storefronts and property in desperate need of repair as well as significant losses to their inventory in the building. Because of these damages, a business owner with the proper insurance policies should be able to receive assistance from his or her policy provider to repair property issues and make up for lost inventory. However, if an insurer doesn’t provide assistance when the policy calls for it, the provider may be held responsible for this negligence through a bad faith insurance claim.

How Inventory Assessments Can Prove Useful

After a known loss of inventory and damages to a property, a business owner should take a close account of what losses he or she has sustained. These assessments are crucial to properly completing an insurance claim and may help in the following ways:

  • Provide an accurate account of the total losses he or she has sustained
  • Create an account that may be used as evidence in case of an insurer’s bad faith
  • Make the insurer’s process of investigating the damages quicker and less prone to clerical errors

Of course, it is important to perform regular inventory assessments, not just after property damage, in order to have a complete record of a company’s total amount of inventory, machinery, and other business property. This can help you prove the full amount of payout you deserve from your insurance provider so that the insurer does not attempt to underpay on your claim.

Contact Us

If your business sustained substantial damages due to a hurricane, yet you still haven’t received the help you are due from your insurer, we may be able to help you enforce the terms of your policy. To learn more about how we can help you through the process of fighting for fair treatment, contact an insurance claim attorney from Williams Hart today by calling (713) 352-0031.

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