What to Do if You Have a Small Business Insurance Claim

If you find yourself in a situation where you have a claim, you can handle it fairly easily if you take the correct action from the beginning. While every type of claim has its own subtle differences, they all begin the same. The first thing you do is contact your insurance company immediately. The guidelines that follow will explain the different actions you must take for a few types of small business insurance claims.

Property Claims

1. Call your agent and insurance company immediately.

2. Contact the police and report any breaking of the law.

3. Make temporary repairs to protect your property from being damaged any further. Hold on to any damaged equipment parts so the claims adjuster can examine them.

4. Continue business as usual as soon as possible.

Liability Claims

1. Contact your small business insurance agent and let them know you have a liability claim.
   
   
2. Give your agent details about the event – including the names and numbers of any eyewitnesses.
   
   
3. Do not spend money on anything relating to the incident other than first aid for anyone who says they have been injured.
   
4. Immediately notify your agent if a lawsuit ensues.
   

Worker's Compensation Claim

1. Immediately assess the employee's injuries and provide medical care if necessary. The goal is to do all you can at the moment to encourage the employee's recovery and return to the workplace.
   
   
2. Call your small business insurance agent.
   
   
3. Comply with your insurance company's investigation of the claim.
   

If you are ever dissatisfied with the way a claim was handled, then be sure to read your policy thoroughly for information about the procedure for disputing a resolution. You'll have to follow that exact procedure before you can take any further action.

Here are some recommendations:

1. Speak with your small business insurance claims manager, claims adjuster, or agent to share your perspective.
   
   
2. Call the insurance company's consumer affairs division and give them your story and the reasons you believe you should receive a larger settlement.
   
   
3. Contact the department of insurance for your state concerning your grievance.
   
4. If none of the above work for you, consult a lawyer whose specialty is with insurance issues to see if they think you have got a claim.