business insurance claim

It is always difficult dealing with a situation that requires an insurance claim. Perhaps you suffered a fire or flood in your building. Maybe an employee was injured in a slip and fall accident. Maybe you were robbed or your building vandalized. No matter what happened, your business insurance coverage may help handle these losses if you file your claim correctly. 

At the Saxton Law Firm, our business insurance claim attorneys can help you properly file your claim and handle any issues that arise with your insurance company. Many insurers will try to deny or limit coverage to save money, but we are familiar with these tactics. We are ready to help. 

Steps To File a Business Insurance Claim

Taking the right steps after a covered incident can help you streamline the process and ensure you get the coverage you are owed.

Contact Your Insurance Company

Contact your insurance professional or company as soon as possible after an incident. They should provide assistance in filing your claim to help expedite the process. It is crucial to report damage quickly, as many insurance policies require you to make a claim within a certain time period or you may lose coverage.

Contact Authorities if Needed

Contact the police or 911 when necessary. This might be the case if your business was the victim of a crime or someone was badly injured.

Review Your Insurance Policy

You and your attorney should carefully review your insurance policy to know whether the incident is covered, and if so, how much coverage is available to you.

Prepare an Inventory

You should prepare an inventory of damaged or lost goods after an incident. This should include their value before the incident, and any reduction in value suffered because of it. This is a critical step to help substantiate your losses to the insurance company and receive your full compensation.

Show Proof of Loss

You will likely be asked to sign a sworn statement of your proof of loss. You can also help prove loss by taking pictures or videos of the damage. Record everything and keep any records related to the damage. Also keep financial records that demonstrate any temporary repairs made or other loss.

Prepare for the Adjuster

Insurance adjusters often appear to investigate your claim. They are trained to look for ways to avoid coverage or reduce the amount the insurance company will owe. It is often best to have your attorney with you if you know the adjuster is coming.

Make Temporary Repairs and Mitigate Damage

Many insurance policies require that you mitigate the damage as much as possible. This might mean you need to make temporary repairs, move inventory to a new location, or other action that reduces the damage you suffer from the incident.

Get Multiple Bids for Repairs

Save yourself and your insurer money by getting multiple bids for repairs. This ensures you are not taken advantage of because of your situation and that you pay a fair cost for quality repair services.

Speak To Your Business Insurance Attorney

After a loss that implicates your business insurance policy, speak to your attorney. Your lawyer knows the tactics insurers use to avoid coverage and can help you prepare. Insurance companies that know you are represented and your counsel is involved often work harder. They might even avoid bad faith practices they may use on unrepresented businesses.

READ MORE: Understanding Business Insurance: Essential Coverage for Kansas Businesses

Filing a business insurance claim is simpler and more effective with help from legal counsel. We advise you on how to proceed and can handle any issues the insurance company tries to throw your way. Contact Saxton Law Firm for a FREE case review!