Do you handle commercial property claims in Illinois?

Yes. We represent business owners and owners of commercial buildings across Illinois, as well as homeowners and landlords, on storm, fire, water, theft and other property losses.

What is a coinsurance penalty?

The part of a covered loss the carrier keeps back because the limit was below the share of the property's value the coinsurance clause required. It applies to partial losses, and the declarations page shows whether your policy has the clause.

What does a commercial claim cost me?

You pay nothing to start. We take an agreed share of the insurance money paid to your business, written into our contract. If the carrier pays nothing, you owe us nothing.

Commercial property insurance claims in Illinois

A storm, fire or burst pipe at a store, office or warehouse lands on a policy with several parts: the building, what is inside it, the build-out a tenant paid for and the income lost while the doors are shut. We claim each part for business owners and building owners across Illinois.

Free Commercial Claim Review (630) 297-8136

Licensed Illinois public adjusters, open seven days a week. $0 upfront.

One loss, five places in the policy. The numbers match the list.

1BuildingRoof, walls, floors, fixed systems, usually on the owner's policy
2Business personal propertyStock, furniture, machinery and computers
3Improvements and bettermentsThe counters, walls and fit-out a tenant paid for
4Business income and extra expenseLost profit, payroll that continues, the cost of a temporary site
5Equipment on the roofHVAC units and signs, placed by the lease or the schedule

Who claims what in a leased building

When the owner and the business are two different companies, one loss is split between two policies. The lease decides most of the split, so we read it before anything is filed. This is the usual pattern.

Building owner

The item

Tenant business

Claims it under the building coverage

Roof, structure, exterior walls

Reports the damage to the owner the day it is found

Not on the owner's policy

Stock, furniture, equipment

Claims it as business personal property

Claims it if the lease makes the build-out the owner's

Build-out the tenant paid for

Claims its use interest in improvements and betterments

Claims it if the lease leaves the glass with the owner

Storefront glass

Claims it when the lease makes the glass the tenant's

Claims lost rent under rental value or business income

Money lost while closed

Claims lost profit and continuing costs under business income

I rent my space. Who claims the damage to my build-out? Usually you do, under your own policy, for the money you put into it. The lease can change that, which is why it comes to the first meeting. Owners of rented buildings will find more on lost rent on our rental property claims page.

The coinsurance clause, worked through one claim

Many commercial policies carry a coinsurance clause, often at 80%, 90% or 100%. It asks you to insure the property for at least that share of its value. If the limit was lower at the time of the loss, the carrier pays only the same fraction of a partial loss. Here is one example with round figures, for illustration only.

Building value at the time of the loss$1,000,000

Limit the 80% clause requires$800,000

Limit on the declarations page$600,000

A storm causes $200,000 of damage. The deductible is $5,000.

$600,000 ÷ $800,000 = 0.75The limit carried, divided by the limit the clause asks for.
0.75 × $200,000 = $150,000The share of the loss the clause lets the carrier pay.
$150,000 − $5,000 = $145,000The payment. With enough insurance it would have been $195,000.

What value the carrier usedThe clause is applied to the property's value on the date of the loss. We check how the carrier arrived at that value.

Whether the clause applies at allAn agreed value option or a blanket limit shown on the declarations page can change or remove it.

What a coinsurance penalty isThe part of a covered loss the carrier keeps back because the limit was below the share the clause required.

What a business claim file holds beyond photographs

A house claim is proved mostly with photos and an estimate. A business claim also needs the company's own records. Start gathering these on day one; most of them are with your bookkeeper or your landlord.

The whole policy

Declarations, every coverage form and every endorsement, not only the summary from your agent.

Lease and amendments

The clauses on repairs, insurance, glass, rooftop equipment and rent during a closure.

Statement of values

The schedule of buildings and contents given to the carrier at renewal.

Fixed asset list

Equipment and furniture with purchase dates and costs, from the books or the tax return.

Inventory records

The last count, purchase invoices and the sales since, to show what was on the shelves.

Profit and loss by month

At least the 12 months before the loss, with tax returns, to measure the income lost.

Payroll records

Who stayed on the payroll during the closure and what it cost.

Every new cost

Board-up, drying, a rented trailer, overtime, a temporary site: extra expense needs a receipt.

Commercial losses, and where each one is covered on this site

The cause of the loss decides which exclusions and conditions the carrier will look at first. These pages go into each one.

Grey shingle roof seen from above with vents and a chimney — A roof from one of our claims, photographed from above.

Closed for repairs

Does the commercial policy pay for the time my business is closed? Only if it includes business income coverage, and then for the period of restoration it defines. Our business interruption claims page shows how lost income and extra expense are measured.

Hail on a flat roof

Membranes, rooftop units and metal coping are judged differently from shingles. See commercial hail damage claims.

Break-in and theft

Stock and equipment have to be proved missing against your own records. See commercial theft and burglary claims.

Smoke from next door

A fire in the neighbouring unit can leave soot in yours with no flame on your side. Our guide to the commercial smoke damage claim covers it.

A building out of use for months

When the whole property is down, every part of the policy is open at once. See large loss property claims.

Code work on an older building

Repairs can trigger current code requirements the old building never met. Read about ordinance or law coverage.

Illinois rules for hiring a public adjuster on a business loss

A public adjuster works for the policyholder, not for the insurance company and not for the State. The Illinois Department of Insurance sets out the rules on its page on public adjusters, and every one of them applies to us.

Once the contract is signed, the carrier sends its letters to us, and we keep you updated as the claim moves. The insurance money is paid to you. Where the loss is about how much a covered claim is worth, the policy's appraisal clause may settle the number.

A written contract approved by the Director of InsuranceYou hire a public adjuster by signing it, and it states the fee.
No approach during the lossNot while the fire or other event is still going on, or while the fire department is at the property.
No approach between 7:00 p.m. and 8:00 a.m.The Department asks you to report anyone who does.
A licence you can checkCall the Department at (866) 445-5364 before you sign.

Tell us about the property and the loss

The review is free. Send the date of the loss, the address and whether you own the building, rent it or both, and we will tell you plainly which parts of the policy the loss reaches.

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Start with four fields

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Prefer to write more? Use the full form. We use your details only to review your claim.

Questions business owners ask about property claims

Do you handle commercial property claims in Illinois?: Yes. We represent business owners and owners of commercial buildings across Illinois, as well as homeowners and landlords, on storm, fire, water, theft and other property losses.
What is a coinsurance penalty?: The part of a covered loss the carrier keeps back because the limit was below the share of the property's value the coinsurance clause required. It applies to partial losses, and the declarations page shows whether your policy has the clause.
I rent my space. Who claims the damage to my build-out?: Usually you do, under your own policy, for the money you put into it. The lease can change that, so we read it first.
Does the commercial policy pay for the time my business is closed?: Only if it includes business income coverage, and then for the period of restoration it defines. Extra expense, such as a temporary site, is a separate line in the same coverage.
What does a commercial claim cost me?: You pay nothing to start. We take an agreed share of the insurance money paid to your business, written into our contract. If the carrier pays nothing, you owe us nothing.