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Commercial Property Insurance

Starting a business is a big investment. Many business owners will purchase commercial property insurance to ensure their investment is protected. Depending on the level of coverage, your commercial property is protected from fire damage, structural collapse and other damage.

We depend on our insurance company to be there for us when our business is destroyed or damaged. We expect them to provide the money we need to recover, but instead, they may take advantage of the situation and offer a deliberately low settlement. Contact an insurance lawyer if this is the case for you.

Insurance Attorney in Texas

Filing a commercial property claim with an attorney significantly increases your chances of a greater settlement. LeMaster & Ahmed PLLC knows the importance of your business, which is why we will devote all of our resources to helping you. Whether you believe your insurer acted in bad faith or an adjuster is unwilling to negotiate, you can count on us resolve the issue.

Call (888) 306-2119 to schedule a consultation with Ms. Ahmed and Ms. LeMaster. We represent the rights of policyholders in Montgomery County, Collin County, Harris County, Dallas County and Galveston County.

Information Center

Standard Commercial Coverage Offered in Texas

Commercial property insurance protects the building your business leases or owns and other personal property owned by the business. Texas insurance companies provide business owners with three types of coverage: Basic, broad and special form policy. Listed below is a brief explanation of commercial property coverage offered in Texas:

  • Basic form policy: As the name implies, this policy provides basic damage coverage. A basic form policy will cover damage caused by the following:
    • Fire
    • Hail
    • Lightning
    • Windstorms
    • Explosions
    • Smoke
    • Vandalism
    • Sprinkler leaks
    • Vehicle and aircraft collisions
    • Sinkholes
    • Riot and civil commotion
    • Volcanoes
  • Broad form policy: A broad form policy is more encompassing than basic form coverage. This type of coverage protects all risks and perils in the basic policy in addition to damage caused by leaking appliances, falling objects, structural collapses and weight of ice, sleet and snow.
  • Special form policy: Special form coverage is the most comprehensive commercial protection. This policy covers damage from all causes of loss, except for policy exclusions.

What is Not Covered by Commercial Property Insurance?

Standard commercial property insurance will not cover every risk and peril that may strike your property. Even if you purchase a special form policy, you will still not be protected from policy exclusions. Coverage that is generally not provided with standard commercial insurance include:

  • Flood insurance
  • Winds and hail coverage if you live along the Texas coast or in Harris County along Galveston Bay
  • Auto coverage
  • Crime coverage
  • Inland marine coverage

As a fully functioning business, there is additional business protection you may want to consider. This type of protection typically pays for damage ranging from soiled business records to costs to comply with building codes. Listed below is a brief explanation of additional business protection offered in Texas:

  • Business interruption coverage: This type of protection pays for lost profits if your business is unable to operate because of repairs or damages.
  • Extra expense coverage: Extra expense coverage pays for additional expenses needed to return a business to normal.
  • Valuable papers coverage: This coverage provides limited protection for business records and other valuable papers.
  • Ordinance coverage: Ordinance coverage pays for repair construction cost needed to comply with building codes.
  • Boiler and machinery coverage: As the name implies, boiler and machinery coverage pays for damaged or destroyed boilers, air conditioners, water heaters and similar machinery.

Can I Sue My Insurance Company?

You are granted various rights as a policyholder. One of those rights is the right to sue your insurance provider. Situations that may warrant civil action against an insurance company include:

  • Refusing to pay a claim without conducting a reasonable investigation
  • Failing to provide, in writing, a reasonable explanation for denying a claim
  • Failing to accept or deny a claim within a reasonable time
  • Delaying a settlement on the basis that other coverage may be available
  • Refusing to pay a claim or making premiums more expensive because of race, religion, gender or other characteristics

If you prevail in court, you can recover up to three times the amount of actual damages, attorney fees and any other relief the court deems necessary. Consult with an insurance attorney if your provider has violated your rights or if you are having a difficult time negotiating with adjusters. An attorney can evaluate your situation and help you determine the best course of action.

Additional Resources

Commercial Property Insurance | Texas Department of Insurance – Learn more about commercial property insurance by following the link. You can find more information about coverage options available in Texas, learn about replacement cost and actual cost value coverage and things to keep in mind when shopping for insurance.

Unfair Settlement Practices | Texas Insurance Code – Insurance companies are forbidden from engaging in certain acts. Follow the link to find a complete list of acts considered unfair settlement practices. You can also gain access to other insurance laws.

Texas Insurance Lawyer

Don’t settle for a lowball claim settlement. Ms. Ahmed and Ms. LeMaster have proven experience negotiating with insurance adjusters. They will use this experience to your advantage and ensure you receive the money you need to recover. Call (888) 306-2119 to find out how we can help.

LeMaster & Ahmed PLLC represents clients in The Woodlands, Plano, Houston, Dallas and Galveston.