Commercial insurance is a must-have for anyone that owns a business. After all, it protects your business from unplanned events, such as a burglary or natural disaster. However, having it doesn't do you any good if you don't know what to do after an incident. Unfortunately, too many business owners don't know how to file a claim and they overlook small details that could have saved them a lot of time, frustration, and money.
So if you don't know what to include in your commercial insurance claim, don't worry. Here are three tips that will help you file a claim correctly:
1. Create a Loss Inventory
Following the incident, you should take some time to create an inventory of any items that are lost or damaged. Although it might seem like a lot of work, this list will help the insurance company determine the amount of compensation you will receive. Be thorough with your loss inventory and detail everything. Be sure to include the original condition and estimated price of each item on the list, as this will also affect your compensation. It might also be helpful to provide a description of each item, especially if something has been stolen.
Additionally, make sure you document the damages of your inventory. Take photos of each item or perform a walk-through video that highlights the damages done. Photos and videos can be used to provide proof of the damaged items. They can also be used to help the insurance adjuster make a more accurate estimation of financial losses.
2. Keep Damaged Items
If your business has suffered from a natural disaster, make sure you keep all of the damaged items. Although they might take up space, the damaged items are important; the adjuster might want to see them or they might be used as evidence. If they are wet or smelly, feel free to store them at another location such as a storage unit. You could also pile them up in another room, parking lot, or other business space.
3. Hire Outside Help
If you have suffered from a lot of loss, you might want to hire outside help. A loss management team can help you comb through and document damaged items. They can also help by speaking with the insurance adjuster, as well.
While no one wants to endure a loss, it isn't always preventable. So if you don't know how to file a commercial claim, make sure you keep these tips handy. They will help you file a claim correctly, so that you receive the compensation you need. If you have any further questions or concerns, be sure to talk to your insurance provider about your policy and their claim requirements. Contact a business, such as Hale & Associates Inc, for more information.Share