It can be a stressful experience when dealing with an unexpected event, incident, or injury in the workplace. However, if you are prepared for it, you can collect the right documentation and get your small business insurance claim filed correctly and on time. Here are some practices to follow when filing a small buisiness insurance claim.
Get Emergency Assistance First
You should always start by getting emergency assistance if it is needed. If the event caused a personal injury, make sure you or anyone involved gets medical attention. You also need to get assistance if there is an ongoing hazard involved, or if you are experiencing severe damage of your property. You want to get your claim filed quickly, but you also want to protect your property and employees. Whatever the source of damage is needs to be stopped to prevent more severe damages.
Contact Your Insurance Company
After you have dealt with emergencies, you need to call your small business insurance company. This is a good thing to start with because all of the details of what occurred will be fresh in your mind. Taking notes just before calling them is also a good idea. You will be sure to tell them everything without leaving things out, and you also have those notes to look upon later. Let the insurance company know what kind of event has occurred, and they will give you information for your next steps.
Keep Proper Documentation
Documentation is an essential part of submitting your small business insurance claim. Without documentation, you have a high chance of your claim being denied. You should have detailed notes about the incident that occurred, including copies of any police reports that were filed, hospital visits and bills, estimates for repairs, and copies of your claim if it has been filed. After you talk to the insurance company, note the date, time and who you spoke to. Get witnesses if it is applicable, including their contact information if that will be needed later.
File the Claim on Time
Once you have your documents ready, it is time to file your claim. Make sure you do this as soon as you can, being sure your claim information is filled out honestly and in full. If you delay too long, it not only takes longer to receive funds, but it could be denied if you took too long. The insurance adjuster will let you know how long you have to file a claim. Make sure you don’t push this too close to the due date so you know it is received by the insurance company on time.
Work With the Adjuster
Your insurance company adjust will contact quickly, typically within 24 to 48 hours after you report the claim. It will help if you can work with the adjuster to get the best possible settlement after filing your claim. You’ll find that your insurance company will pay your claim timely provided you follow the best practices for supporting your small business insurance claim.
