I am a commercial building owner and my building caught on fire. The fire was cause by cigarettes outside the facility but still on my property ground. I am suspecting it was from my tenants but there's no way to prove who it's from. The fire also damage a retail business building next door. The retail business owner is now suing me for property damage and loss of profits. The question here is am I liable for their lost? And if so, what are the chances for the judge to award them the full amount they request?

Is it safe to assume your building was insured for fire?

Yes my building is insured but the retail building is suing me for $1.8million when my coverage is only $1million.

Your insurance company will fight this fight because they don't want to pay that first $1m. Also, courts almost never grant the full anount in this type of suit since every claimant over inflats his losses. Also, how can he put a price tag on future sales losses when it is up to him to get his operation up and running, sounds like he's the one blowing smoke. File your claim and also ask the fire department if their arson unit finds a cause

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Originally Posted by ballengerb1

Your insurance company will fight this fight because they don't want to pay that firts $1m. Also, courts almost never grant the full anount in this type of suit since every claimant over inflats his losses. Also, how can he put a price tag on future sales losses when it is up to him to get his operation up and running, sounds like he's the one blowing smoke. File your claim and also ask the fire department if their arson unit finds a cause

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Thank you for the reply. We filed insurance already and their lawyers is handling the case. I just want to have a piece of mind. Had to sleep with this hanging over my head.

Come back and update us, using this same thread of posts, as the situation progresses