As a business owner, you wear many hats. And you don’t have time to hassle with your insurance company if something goes wrong.
To ensure that your business insurance claims are accepted and fully reimbursed, there are several key things you should do.
Whether it’s a fire, accident, theft, weather-related damages or another event, all claims should be reported to your insurance company as soon as possible. Use standard written reporting forms in your business to report any major incidents, and train your employees on the correct way to fill them out. Having consistent, thorough documentation of your claim is important.
When you contact your insurance company to report your incident, your insurance broker will explain how to submit your claim.[pullquote]Be sure to ask about the timeline for the claim process.[/pullquote]
If theft, vandalism or any other criminal activity affects your business, you should report it to the police. Many commercial insurance policies require this, and will want to see a copy of the police report when processing your claim.
When your insurance company has received your claim, they’ll assign you a public adjuster. It’s crucial that you get in touch with the public adjuster promptly. Making contact with your public adjuster within 72 hours is good practice. Your public adjuster will want to see proof of loss or damage to your property. When you send them the form, include any photographic or video evidence related to your claim.
Get the most from your claim so you can recoup your loss and get back to business. Ask your insurance company for a copy of your policy so you’re clear on the process, and be sure to keep a record of all communications you have with your insurance company.
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