Sun 24 Sep, 2017 01:12 pm
I realize casualty loss covers a wide spectrum of disasters but had a question on if it could be interpreted due to negligence from a landlord. Here is the scenario:
Retail store sells high end footwear and displays all of its $55,000+ worth of inventory on the sales floor. Retail store has large glass sliding doors what have noticeable gaps. Landlord, without notice, start ripping up floor and saw cutting concrete in front of store. Concrete dust covers entire retail store and renders $55,000+ worth of inventory unsellable.
Would like constitute casualty loss?
Generally, the insurance carrier will interpret their policy as strictly as possible (because they really don't want to pay anyone). Got any form of renter's? That might be a better tack.