Insurance Coverage for Collapse: How Has It Changed and Why?
Description
Today we will be discussing the insurance coverage for collapse. Throughout the years, insurance companies have updated the policy language as to what constitutes a collapse loss and continue to do so today. How can you be sure you are covered in case of collapse and furthermore, how can you help to mitigate a collapse loss to your property? Find out on this episode as we discuss collapse with our experts.
Key Takeaways:
[1:40 ] What are common reasons or circumstances that cause a property to collapse?
[2:31 ] What constitutes a collapse loss according to the insurance company?
[4:54 ] If a home or business were to collapse due to a natural disaster would it be covered under a standard property insurance policy?
[7:23 ] How can policyholders protect themselves when it comes to exterior buildings on their property?
[10:02 ] What happens if two variables cause the collapse of a property? How would the policyholder's claim be handled?
[16:11 ] How can home and business owners protect their property from collapse?
[18:05 ] What happens when policy language is ambiguous when pertaining to a collapse?
[21:14 ] What types of professionals are available to assist policyholders who are suffering from a collapse insurance claim?
[24:55 ] Additional considerations regarding collapse claims.
Panelists:
● Matthew Blumkin, Principal at The Greenspan Co./Adjusters International
● Todd Thomas – Executive Director of Consulting Services and member of the Society of Risk Management Consultants - Adjusters International
Moderator:
● Brianna Moyer, Digital Marketing Manager – Adjusters International
Mentioned in This Episode:
United States
