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How Texas Law Handles Business And Property Losses

Posted: 12-11-14Category:

If you're a new Texas resident and own property or a business, it's important to understand Texas laws regarding business or property losses. If you own a business in Texas you must have business insurance by law in order to cover any losses that your business may incur at a point in time due to damage intentionally by others, through an accident or a natural disaster such as a hurricane or tornado. If you own a commercial building and renting to tenants, you should be aware of the tenants' rights. You must provide fire insurance for commercial tenants and liability insurance.

Fire Insurance Claims in Texas

If you lost your home or business in a fire in Texas, you should contact your Texas business insurance claims attorney to assist you with processing your fire insurance claims or appealing a recent denial of the claims. The insurance company must pay you the amount of the total damages caused by the fire.

Business Interruption Coverage

In Texas you can obtain business interruption coverage and this is a type of insurance that helps you recover losses that came as the result of a fire, flood or an act of destruction by criminals. There are several types of business interruption insurance and one of these is the insurance that covers profits your business lost. You also have the coverage that gives monetary compensation for expenses associated with rebuilding.

How The Lawyer Can Help You With Business Losses and Insurance

When you meet with the Houston business insurance claims lawyer he or she will go over several things with you. The lawyer will help you track your business losses and he'll talk about how you can best prepare your business income claims in such a way that you'll get maximum insurance coverage to help you rebuild the business. You want to meet with the lawyer as soon as the business loss occurs so that the claims can be processed in an appropriate amount of time. Owning a home or business in Texas requires that you have insurance to cover any losses that your home or business may experience in the future. You should take steps to ensure that your property does not suffer loss and one of the best ways to do this is to practice proper safety regulations to avoid hazards or vandalism. When your business experiences a loss you need to assess the damages thoroughly and file a claim immediately.

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