Business insurance claims are not an everyday occurence. If your business suffered a tragic event such as a fire, flood or theft would you know what to do? If you had to submit an insurance claim would you know where to get assistance?
Most business owners have insurance on their commercial properties but don’t know the business insurance claims process. Due to this fact Public Loss Adjusters, an independent claims management company has produced a business insurance claims step by step guide for just such an occasion.
What Does the Business Insurance Claims Guide Contain?
As you would expect business insurance claims are not one step policies, however, they do not have to be as complicated as they first seem. With the assistance of a company such as Public Loss Adjusters to help manage your claim on your behalf these daunting insurance claims can be easily managed.
The guide is broken down into 9 main steps, below are short concise explanations of the first three steps. For more information and the following 6 steps click here.
The first step is to be done prior to an insurance claim. This step is all about planning ahead, to make the insurance claim easier. Start by collecting all insurance documents and making a copy, this copy should then be stored in a safe off-site location. This is done to ensure that access to your insurance documents is available even if the original files are destroyed.
Ensure that contact numbers both in hours and emergency contacts for your insurance company are correct. While large insurance companies usually do not change numbers in some situations they may have too. These companies will then attempt to contact all their policyholders and ensure they know this number has changed. Make sure to keep note of all these numbers as the last situation you want to be in is having a damaged property and no way to contact insurers.
Ensure Your Property Is Safe
Damage to your property from any event can create dangerous situations. This includes weakened structural integrity which could result in collapsing ceilings and walls creating an obvious danger to anyone inside.
If the damage to the commercial property is severe emergency repair works may need to be carried out. Many insurers will put you into contact with local repair companies and agree to cover the costs to avoid any further damage and limit the danger of the property.
Locate Any Damaged Contents
One of the most important steps of any insurance claim is identifying damaged contents. To completely cover the costs of the claim a comprehensive list must be drawn up. A surveyor will create a full list later in the process. However, it is your responsibility to create a list of contents to work from.
Every business should have a list of contents for all major items in their commercial property. If you have this contents list to hand start by picking the largest item. Then simply work downwards in terms of value and importance to your business. If you do not have this list this step will be harder to complete comprehensively but your best estimate should be recorded.