How to File a Business Insurance Claim

You have business insurance, but what happens when you need to file a business insurance claim? How do you go about it? This article will help walk you through the process of filing a business insurance claim.

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Filing a Business Insurance Claim

When a fire, accident, natural disaster or burglary impacts your business and you need to file a business insurance claim, here are the steps you should take:

  • Inform your insurance agent of the incident as soon as possible. Provide as much information as possible, and give detailed answers. If a burglary or theft has occurred, contact local law enforcement officials immediately.

  • Read your business insurance policy to learn the requirements of business owners after a loss.
  • If a disaster has struck, do your best to minimize further damage by making temporary repairs.
  • Before disposing of damaged objects, give the claims adjuster an opportunity to inspect them.

Need to File a Business Interruption Claim?

Business interruption insurance covers losses sustained when business is interrupted due to a covered peril. This is a crucial safety net for most businesses. But filing a business interruption claim can be a trying process, and usually requires that the business keep records of the following:

  • Proof of the income it was generating both before and after the interruption began.

  • The cost of conducting business from a temporary location.

  • Detailed records of business activity.

  • If the business is forced to close down, a list of expenses that continue while business is suspended, such as advertising, utilities, etc.

If a Business Insurance Claim is Handled Poorly

Even when business owners follow proper filing procedure, not every business insurance claim goes off without a hitch. If you’re unhappy with how a business insurance claim was handled, you have options:

  • Speak to your insurance agent and/or claims adjuster and express your displeasure with how the claim was handled.

  • Contact the insurance company’s customer service or claims department.

  • If all other measures fail, voice your displeasure to your state’s department of insurance for assistance.

To file a business insurance claim, though, you must have business insurance. Shop and compare quotes right now using our free business insurance quote form.