As a small business owner, you have a lot on your plate. In running your business, you also have to worry about taxes, marketing, and—perhaps most importantly—insurance. Commercial insurance is necessary for any small business, as it protects you from various risks, including property damage, liability, and even employee injury.
While having the best business insurance is essential, it’s only half the battle. The other half is knowing how to file a claim with your insurance company if something goes wrong. Filing a claim can be complicated and time-consuming, so it’s essential to be prepared ahead of time. This guide will walk you through everything you need to know about filing a claim with a small business insurance company, so you can rest assured that your business is protected in an accident or disaster.
What You’ll Need Before You Start
Before beginning the claims process, you’ll need to gather critical information and documentation. This includes:
- Your policy number: This should be listed on your insurance card or certificate. You can also contact your agent or broker if you can’t find it there.
- A detailed description of the incident: When you call to report the claim, the insurer will ask for a detailed description of what happened. Be sure to have this information on hand before you make the call.
- Contact information for any witnesses: If witnesses are to the incident, be sure to get their names and contact information. Any relevant police reports: If the incident involved the police, be sure to request a copy of the report.
- Supporting documentation: Depending on the type of claim you’re filing, you may need to submit additional documentation, such as police reports, medical records, repair estimates, or receipts. Collect all of this documentation before beginning the claims process to avoid delays.
- Your contact information: The insurer will need your contact information to reach you if they have any questions about your claim.
Calling Your Insurer to Report the Claim
Once you gather all the above information, you’re ready to call your insurer to report the claim. When you do so, be sure to have the following information on hand:
- Your policy number
- A detailed description of what happened
- Your contact information
The Claims Process
After reporting your claim over the phone, an adjuster will be assigned to your case. The adjuster’s job is to investigate the claim and determine how much the insurer should pay. The adjuster will likely request an on-site visit to assess the damage firsthand. Once the adjuster has all the necessary information, they will issue a check for the covered damages within 10-14 business days.
Conclusion:
Filing a claim with your small business insurance company doesn’t have to be a headache—as long as you’re prepared ahead of time. Gather all relevant information and documentation before beginning the claims process, and be sure to have your policy number on hand when you call to report the claim. An adjuster will be assigned to your case soon after you report it, and they will determine how much money your insurer should pay out for covered damages. Then, within two weeks, you should receive a check for those damages in the mail.
