How to File a Business or Commercial Insurance Claim with Ease

Part of a business owner’s responsibility is filing insurance claims. Severe weather, natural disasters, injuries, theft and equipment failure can cause losses to your business. And the reality of rising transportation costs, harvesting challenges and ongoing attitude problems have no doubt given you more than enough to deal with on a daily basis.

Whether you’re dealing with a major hardship or a minor incident, you – or your employees – can play a big part in how smoothly the claims process runs. With the preparation and help of your insurer, you can file your next claim with confidence and get your business back up and running faster. To help you, I’ve put together five tips to help you manage your claims with ease.

Understand your insurance coverage in advance

Before any damage or incident occurs, it is important to know what is and is not covered by your insurance policy. If the language seems unclear, contact your agent. They will be happy to review your coverage with you so you can better understand how it applies to your business.

Regularly reviewing your plans will also identify any gaps in coverage and alert you to the schedule you need to follow to report claims.

Contact the relevant authorities

When the unexpected happens—and you’ve assessed the damage and protected your employees, customers, and inventory—the recovery process should begin as soon as possible.

• In the event of vandalism and theft: contact the local authorities and file a report. In the absence of a police report, some insurance companies will not pay for any damage caused.
• If an employee or customer is injured: Consult a doctor on their behalf as soon as possible. If the injury is serious, call 911.
• If an accident occurs in a company vehicle: Go to a safe place and call the police. Call 911 for serious injuries.

Details matter, so gather information and take photos

Taking the time to describe the incident in detail before filing your claim can help expedite your claim process. Include as much information as possible and verify its accuracy to avoid unnecessary delays later. Use the following checklist as a reference:

• Account Name and Policy Number
• Date, time and location of the incident or damage
• Name and contact details of the person reporting the incident/damage
• Detailed account of what happened and who was involved
• A police report, if one has been filed

Not surprisingly, photos and videos are a crucial part of any claims process. If safety concerns are not an issue or no additional damage occurs, take photos and video before making repairs or cleaning the area so you have a more accurate record of the damage done. Always take more photos or videos than you think you need and make sure the area is well lit. With camera in hand, remember to take photos and videos that capture:

• The surroundings from a wide angle
• The affected area from different angles
• Close-up photos of the damage

Contact your insurance carrier to report the claim

Once you have carefully recorded the damage and incident details, contact your insurance carrier to report the claim. The First Report of Claim (FNOL) is your first report to your insurance company and starts your claim process. It is important to act early. Some insurance companies require the FNOL by a specific time limit based on the insurance plan.

How you submit your claim can also impact the ease of the process, which is why these tips can be so helpful to you and your team. A phone call to your insurance agent may be able to get the process started faster. If you submit your claim via email or through an online portal, it may take up to 48 hours for the claim process to begin. Either way, it helps to make sure you have enough documentation.

A claims adjuster will take over and collect additional information to determine the amount of your insurance claim adjustment once the FNOL is complete. Your expert will ask you for the detailed information you have gathered at this point.

Document and track

After a loss, you need to stand up for your business. Keep good records, make duplicates of information, photos and videos you collect, and document your claim in writing.

Complete an incident report for your company. If you don’t normally do this as part of your loss control program, it’s important to add it.

• Record all details of the incident
• Keep an accurate timeline of where you are in the claims process
• Compare your report with the information provided by the insurance company to identify errors or inaccuracies
• Report any discrepancies to the insurance company as soon as possible
• Contact the company for updates if they haven’t contacted you

Your insurer is there to help

Don’t be afraid to rely on your insurer’s expertise. Trained claims experts will guide you through the claims process and help you determine what important information you need to submit your claim.

Claims management can be a lengthy process, but it doesn’t have to be. That’s why it’s so important to have an insurance provider who knows your business and understands your industry. Insurance protects you and gives you peace of mind—all so you can get back to business, cultivating your business, growing crops your customers love, and seeding a happy workforce.