Four Tips for Business Insurance Claims

We all know that being a business owner is not easy, and can be quite stressful. With all the stress that comes with it and the responsibility to your clients and employees, there is nothing worse than having to add to that stress with unexpected damage or loss. Making these types of business interrupting claims to insurance companies can affect you a lot. It can impact your ability to support yourself and your family negatively.

But we’re to help! Here are five tips we recommend.

1. Keep track of everything!

tracking expenses business insurance claim Express Public Adjusting

It’s important to track any expenses related to business equipment, inventory, and other business costs. It’s good for a lot of reasons, but one of them is that it’ll come in helpful for insurance claims. If your home is damaged, you would prove the value of lost items. So, why not do the same for your business?

Having an itemized list of business-related property and valuables can help make the claims process faster. 

Pro tip: Keep your itemized list in both paper and electronic format. While paper copies may be useful for work operations. If something happened to your property it is always crucial to have access to these records at any time. 

2. File a Police Report Immediately

If the damage caused to your business or the reason for your business interruption is caused by vandalism or burglary, contact the police immediately. Having a police report as a record of the incident helps to validate your claim. Not only that but they can also help secure your property and ensure your safety before entering it. 

3. Have Financial Records for Lost Profit Claim

If your case includes a business interruption claim, being able to prove the anticipated profit for the restoration period is necessary for proving your claim. Having your financial records and being able to present the projected sales amount, plus other evidence that supports your claim can help prevent any coverage denial. 

If you’re wondering whether your claim can apply to yours. These claims are typically for cases where a business can’t operate due to repairs, construction, or relocation.

4. Find a Public Adjuster for Business Interruption Claims

ledger business insurance claim Express Public Adjusting

At the end of the day, insurance companies and their claims adjusters are working in their best interest. This means that they’ll try to determine the lowest possible payout or deny your claim entirely. Working with a Public Adjuster, whose main goal is to make sure you are getting the money you need, will assure you to get your business on back track. 

Have you filed an Insurance Claim in the past 3 years? New or old, we’re able to look into it and get you what YOU DESERVE

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