Restaurants
As the owner of a restaurant or tavern, your livelihood depends on your doors being open for business. If you have experienced property damage from a disaster, you need to be thinking about keeping those doors open, not worrying about how to handle property insurance claims.
As your licensed public adjusters, we evaluate, document, and negotiate not only the physical damage to your property, but also the income lost from business interruption and the extra expenses that are incurred.
Our team understands the complexities of the insurance claim process and leverages our expertise to optimize your settlement.
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1
Your restaurant just suffered serious damage and you are wondering what you need to do to expedite financial and operational recovery.
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2
You call your insurance company and wait for an adjuster to arrive, assuming you’ll receive what your insurance policy states you’re covered for. Afterall, that’s why you’ve been paying your insurance premiums all along, right?
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3
As a client of your insurance company, your claim is now a liability on its financial statements.
We Can Help
Knowing everything you possibly can about the "fine print" of your insurance policy before you have substantive dialogue with your carrier is critical. Understanding what you are covered for and how to claim it is where our experience starts to be of value.
Choosing what to say to your insurance company's adjuster and how you say it makes a dramatic difference in how much and how quickly you get paid. Globe Midwest/Adjusters International's public adjusters are experts in insurance claim negotiation.
The more you know, the better the results, so turn to the firm who has been in the field since 1924 and has the repertoire of satisfied clients to prove it.
Factors To Consider
Be sure to understand each of the following factors before engaging with the insurance company. Knowledge is the key to a successful claim outcome.
- Can I continue to pay my employees?
- Can I compensate employees who help with cleaning or restoration?
- Are replacement properties an option for me? Would a lease purchase strategy be beneficial?
- What happens at the end of my claim if I have moved my business to a temporary location?
- What happens if I open my business elsewhere and I am successful? What happens if I am not successful?
- How quickly can I start rebuilding?
- How does my insurance policy address increased costs due to new codes? If my coverage is limited, what can I do about it?
- Does Title 24 and handicap access impact my claim?
- How do smoke and the water used to fight the fire affect my appliances, equipment, and other electronics?
- What are the pros and cons of replacing versus repairing equipment/processing lines?
- What is my broker/agent’s role?
- Does the adjuster work for me or the insurance company? Why should this be a red flag?
- What are Warranties and Protective Safeguard requirements? What do they mean, and can I still collect if I am not in full compliance?
- Is there coinsurance in my policy? What does it mean?
- How is actual cash value determined? Why should I care?
- Does the insurance company pay for the necessary professionals to accurately evaluate my claim?
- Is the insurance company using an independent building or equipment consultant to prepare a bid? Who are these consultants and do they only work for insurance companies?
- What happens when the insurance company engages a forensic accountant? Who does that accountant work for?
- Can I recast my financial statements? If so, why?
- How is credit for continuing sales calculated?
- How do I project lost/declined sales?
- Can I use proformas/budgets to calculate loss of income?
- What is the extended period of indemnity, and how does it work?
- What are extra expenses and what can be included? Can I use extra expenses to offset shortfalls in property coverages?
- What are expediting expenses? How do they differ from extra expenses?
- If I own multiple restaurants in a geographic area and sales go up at other locations as a result of the fire, does the insurance company get the credit?
I would like to thank you and Globe for the work you did on our behalf, following the terrible fire that destroyed our restaurant. I had no idea how much research, documentation and negotiation would be involved in seeking and reaching a just settlement from the insurers but I have one now. Just thinking of how I might have attempted this effort on my own gives me real pause, because I really don't think I could have done it. Without doubt, I would not have achieved the numbers that you were able to deliver. I simply wouldn't have known how.
Who We've Helped
Globe Midwest/Adjusters International has helped clients secure the settlements they need to meet their financial and operational recovery goals since 1924.
Don't just take our word for it. Read statements written by members of your community.
Globe Midwest/Adjusters International employs expert public adjusters who specialize in insurance claim evaluation, documentation, and negotiation. Read how we have helped clients who were once in similar situations to yours.