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: