Your business is a big part of your life — that’s why you’ve decided to protect your assets with business insurance. But if there’s an incident, accident, or issue, do you know how to use your insurance coverage to your advantage? Here are some things to keep in mind in case you face an event like:
- Electrical fire that damages your property or equipment, shutting down your business
- A break-in or theft, resulting in loss of merchandise or equipment or property damage
- Customer or employee injury on company property
- Damage from a natural disaster that renders your business inoperable
So, what now?
- Respond to the immediate threat: Make sure everyone is safe or that injuries are being addressed. This might mean evacuating your property or calling for medical treatment.
- Contact the police: If your claim is going to report theft, burglary, or something similar, you’ll want to contact local law enforcement as quickly as possible to begin the process of both helping to recoup lost property, find the person responsible, and begin collecting the necessary reports and paperwork.
- Contact your insurance company and insurance representative as soon as possible. They’ll be able to give you the specific next steps that apply to your situation. Contacting them as soon as possible will help you better mitigate damages and keep your business operational, or at least get it back on track to being operational as quickly as possible. For specific incidents, an insurance adjuster may be sent out to begin assessing the damage.
- Stay organized: Your claims process is going to involve a lot of paperwork, so make sure you’re staying organized throughout the process. If you’re conducting temporary repairs, keep your receipts. Keep an inventory of anything that’s damaged or lost and keep a digital record of the list. Take pictures of damages or other relevant things and store them digitally for easy emailing to your agent and other parties. You’ll need to provide proof of loss and holding onto all documents in an easily accessible location will be a big help.
Our job is always to make sure that your business and assets are protected and make the whole process as painless as possible. If you need business insurance or need to start the process of filing your claim, get in touch with us today.