When an incident occurs that is covered by an existing insurance policy, you might need to make a claim if the losses are substantial enough to warrant doing so. A claim is essentially a formal request to the policy provider for compensation for damages, but they can also be related to your need to resolve a pending legal issue related to your business. Here are a few basic steps to filing insurance claims.
Contact the Proper Authorities if Necessary
If any type of criminal act has potentially sourced the loss, call the police right away and file a report which will likely be an essential component to proving your claim’s case with the insurer. They will document the scene and make note of details to help you proceed.
Document Information with On-the-Scene Incidents
When a vehicle is involved, an individual has been injured on the property, or another party may possibly have reason to file a legal suit against you due to your negligence (or perceived negligence), it’s essential to exchange and document pertinent information. Just as one does in a non-business related vehicular accident, note everything with copied documents or hand-written details.
You will want photos, contact information for any witnesses and any other evidence you can gather to provide your insurer. If medical attention is needed, be certain to coordinate with involved medical providers when filing your claim, to expedite compensation for yourself or injured parties.
Contact the Insurance Company
Get in touch with your insurer as soon as possible to find out the next steps and necessary paperwork to file your claim. Ask where to file the official report, what you will need to provide in the report, and how long you have to submit everything officially. You might need to fill out a Proof of Loss form if the incident resulting in lost, stolen or damaged goods.
File Your Insurance Claim
Once everything is ready, file the claim as directed by the insurer. There is likely to be a bit of back and forth between insurance companies and perhaps legal entities depending on the situation. Patience and due diligence is necessary until your claim has been satisfactorily resolved.
Where to Get Business Insurance
If you’ve ever wondered where to get business insurance, you won’t find any shortage of providers. Look locally for an agent or broker who will help you get the right insurance at a price you can afford.