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Business Insurance - Filing a claim
Here are the steps you should be sure to follow in the event you need to file a claim against your business insurance policy.
Make the calls
Contact your insurance agent and company immediately. Communication with your agent and claim adjuster are critical. These two people will be able to help with your needs following a loss. Follow their guidance, they have been here before.
Get the customary three bids on the cost to repair or replace damaged property.
Take Steps to Prevent Further Damage or Loss
After a disaster, take steps to protect the property from further damage
with temporary repairs. This responsibility will be defined within your insurance contract.
If immediate repairs to equipment are necessary, save the damaged parts
in case the claims adjuster is interested in examining them.
Get the paperwork
When filing a business interruption claim, you should be able to show
the income from the business both before and after the loss.
Keep the paperwork
Keep detailed records of business activity and extra expenses during the
interruption period. This should include expenses that continue during
the time that the business is closed such as advertising.
Note: You paid your insurance agent a commission to sell and service
your policy. You needed him when he or she sold you the policy and you'll
need him or her now. Look to your agent to guide you and help minimize the
mistakes. The time period that immediately follows a loss is the most important. Communicate with your agent and claim adjuster.