Having an insurance claim accepted for a client is one of the most satisfying parts of the job when you’re a financial advisor, particularly when it helps a grieving family. There are many ways financ …
Business Property Insurance II
"IAS was professional, efficient, and supportive throughout the entire process. Their dedication and expertise made everything smooth and stress-free. I appreciate Teresa’s hard work and service. Thank you."
At IAS, we fight for our clients to get the payouts they deserve. When an insurer tried to settle for less, we stepped in—securing an extra $20,000 to help our client rebuild their business. Here’s how we made it happen.
When Sarah’s* laser clinic suffered a devastating fire, the financial impact was overwhelming. The business had Business Property coverage of $178,000, but the estimated cost to replace the damaged equipment—including her essential laser machines—totalled $196,659. With a shortfall of nearly $20,000, Sarah was faced with the difficult reality of covering the extra costs herself.
Going above and beyond
At first, the insurer indicated they would only pay out the sum insured, leaving Sarah with a large financial gap. However, Teresa’s expertise led her to a crucial policy detail: a limit of liability clause allowing for an extension of coverage up to 120%, increasing the potential payout to $213,600.
Understanding the importance of this clause, Teresa immediately took action, advocating for Sarah's full entitlement. The insurer was initially hesitant, but Teresa wasn’t willing to back down. Through persistent negotiations and a deep understanding of policy terms, she successfully secured the full $196,659 payout—nearly $20,000 more than originally offered.
Getting the business back on track
With the additional funds, Sarah was able to replace her laser machines and restore her business without additional financial strain. More than just numbers, this case highlights the value of having an experienced insurance broker who understands policy intricacies and fights for the best possible outcome.
* Client’s names have been changed to protect confidentiality.