Many Christchurch businesses have found that they aren’t getting the full insurance benefits that they deserve. There are reports that insurance claims are not being treated fairly. Businesses feel as if they’re being ripped off.
How exactly is the mistreatment occurring? Businesses feel that they may only be getting 10% of the money that they deserve. Owners thought that they had the right level of coverage, but are finding that they are being offered much less. For the full coverage, be sure to click for more info for more information on how to get full insurance benefits for your business or vehicle.
900 buildings that are located in the red zone, will be taken down. Most of these businesses are upset at the insurance offerings. More owners are becoming increasingly frustrated because they are not being offered the level of insurance coverage that they assumed they had purchased.
It has been three months since the earthquake damage first hit. Businesses are still unable to function and operate normally. Many of these businesses are operated by individuals are these owners are not happy. This is especially true for small business owners, because they are struggling to get by. If they’re unable to get the full help that is needed, they may not be able to survive as a business.
The Insurance Brokers association claims that there is a misunderstanding and that business owners did not fully understand the coverage that hey acquired. The coverage that is offered is for the damage that occurs to the actual structure. Many businesses don’t have much damage to the building, but owners are unable to get into the property in order to offer its services. Many businesses have only been offered 10% because the insurance companies claim that there is hardly any damage to the actual building. This continues to frustrate many owners.
The way in which insurance policies are worded, is leaving many business owners confused and upset. Because of the way in which a policy is worded, it’s possible for businesses to miss out on some financial opportunities that they assume they’d be eligible for.
Currently, it’s unsafe to be in many of the buildings. Many insurance companies are trying to reach an agreement with business owners over the confusion that exists. Unfortunately, many businesses will suffer in a number of ways because of the confusion. Many businesses may not be able to reopen their store and may suffer huge financial hardships.
This shows the importance of understanding all insurance documents. All businesses need to take the opportunity to understand all aspects of each insurance policy in order to be fully protected.
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