Your company may enjoy many claim-free years. Then a loss suddenly occurs. Will you know how to respond? Managing business insurance claims involves three steps: planning, reporting and following up.
Business Insurance Claim
Planning is a critical part of risk management. Business owners should have a disaster plan in place. Employees should be trained how to report a claim properly. You must notify your insurer of any accidents or claims as soon as practicable (as soon as possible) in order to qualify for coverage under a commercial insurance policy. Once you have reported a loss to your insurer, be sure to follow up regularly with the adjuster assigned to your claim.
Immediately After the Accident or Loss:
Accidents can vary in severity. Sometimes it’s a pebble that cracks your windshield, sometimes it’s a collision. Here are some guidelines on what to do after an accident or loss:
- Report to Law Enforcement (commercial property; auto physical damage)
- Contact Your Insurance Professional
- Contact Your Insurer
- Contact Professionals to Assess and Repair Damage
- Contact Competent Legal Counsel
- Contact Competent Accounting Assistance (business income claim)
Reporting the Claim
You can report a claim in a number of different ways – online, over the phone, or with your mobile device. But no matter how you report it there will be some information we’ll need to know:
- Your information (name, address and which vehicle was involved)
- What is the claim for?
- Make sure everyone is ok and call 911 if necessary
- If someone else is involved, exchange information
- A basic description of what happened
- Severity of the damage
- Estimated time / location of the incident
- Information of anyone else involved (other drivers, witnesses, etc) is also helpful.
Business Insurance Company Claim Centers
Below are links to our business, professional & specialty insurance companies claim centers: