Thursday, February 2, 2017

What Is a Large Loss Insurance Claim?

An experienced attorney, Bill Voss holds a juris doctor from the Thurgood Marshall School of Law. The founding owner of the Voss Law Firm in The Woodlands, Texas, attorney Bill Voss works a variety of legal cases, such as large loss insurance claims. 

Large loss insurance claims are often characterized by a variety of factors, such as dollar amount, the square footage or number of floors of the property, and the complex nature of the loss. Some examples of large loss claims include single structure losses, such as a single-family residence, or weather disasters that affect multiple properties.

Large loss claims are typically time consuming and complex, due in part to the different processes and criteria insurance companies have for the handling of these claims. In addition, some large losses may involve multiple insurance coverage options, and some residential large losses include collectibles and personal belongings that are difficult to adjudicate.

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