Insurance Coverage for Collapse: How Has It Changed and Why?

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: Adjusters International Adjusting Today — Insurance