What is a Large Loss?
What is a large loss? This is a question we get asked often, and in this blog, we share our definition. As a team, the large loss attorneys of McClenny Moseley, & Associates (MMA) have helped thousands of commercial property owners and business owners get the coverage they deserve post large loss.
When disaster strikes, property owners are not ready to assess all of the damage alone. Navigating the whirlwind that is post-loss after a disaster has struck is a full-time job, and this is where a large loss attorney can help. Depending on the extent of the damage, you may find yourself with a large loss claim on your hands. But like many others, you may be thinking, “what is a large loss?”
Our Definition
When there is a large or significant amount of property damage experienced by the tragic effects of storms related issues or significant structural damage, there can be a case for a large loss if the damage is extensive.
“A large loss is more of a function of the size of your business and what you think is large. Everyone is different,” said Attorney and Founding Partner .
While Director of Marketing, Pate Smith, says “a residential loss at $300k or any loss at seven figures is a large loss.”
Take a deeper dive on this topic by viewing an episode of the Large Loss Lounge!
While money is a significant factor in determining large loss cases, it’s not the only variable; it varies per case. Since the line is not always clear, the team at McClenny Moseley, and Associates can help identify the elements that determine if you have a large loss claim on your hands. Once identified, the steps to getting through a large loss can be tedious. But with help from the large loss attorneys at MMA, the process can be seamless. Explore more about the navigation process of large loss claims here and find out if you have a large loss case on your hands.
Damage Examples and Previous Large Loss Scenarios
With storm seasons being unpredictable year after year, we have seen our fair share of large loss claims. Below are some examples of damage we have seen and large loss scenarios we have lived through that provide a great look into the large loss hemisphere.
- Structural damage of mass proportions both interior and exterior
- Repairs to the damage are complex to bring the property back to the original state
- Hurricane Harvey
- Hurricane Michael
- 2021 Texas Winter Storms
- Hurricane Laura
- Hurricane Hanna
Insurance Companies and Large Loss
While navigating your potential large loss case, it’s essential to have the right people on your side. Your insurance company should protect you as the policyholder, but that is not always the case. When working with the large loss team of attorneys at MMA, you have the confidence to know that the process of recovery is managed with excellent care. We suggest you review your policy in full as you renew each year. This will allow you to be ahead of the game when it comes to coverage, great for pre-damage situations. We also suggest signing a managed service agreement with MMA to have extra eyes looking out for you and your commercial property year-round to help assess your damage post-loss and help mitigate your losses.
Large Loss Lounge
A place for business owners to connect, network, and receive legal updates from our team of professionals. McClenny Moseley, & Associates are the large loss Attorneys that you want on your side.
Weekly, the McClenny Moseley, and Associates team will be hosting live events “in” the Large Loss Lounge. We will be answering your legal questions and discussing topics like “how to handle and obtain a positive outcome for your claims?” Industry experts will also join us to discuss specific topics viewers are interested in and answer the questions you ask. Make sure to set those alarms and sign me for updates; you don’t want to miss out!
Shows are live every Thursday at 4 pm CST on Facebook. Click here to sign up to receive updates and stay informed.
How We Can Help
at MMA Law Firm, our primary goal is to protect the rights of policyholders while maintaining the highest ethical standards. We recognize the importance of customer satisfaction and handle all cases with determination and respect. Our fearless attorneys go above and beyond to help you fight for what you deserve.
Clients are our main priority, and we understand how crucial our role is in the outcome of life-altering cases. Our attorneys keep their clients updated at every step of the litigation process and are available at all times. We will do whatever it takes to defend our clients for what they deserve or for what they have lost.
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This blog published by MMA Law Firm is available for informational purposes only and is not intended to be legal advice on any subject matter. The content available on this website may not constitute the most up-to-date legal or other information.