How Do I File a Business Insurance Claim?

Are you a small business owner? Do you need to file an insurance claim to protect your business and assets? You may be in unfamiliar territory, may not understand the process and may be asking – how do I file a business insurance claim? Saxton Law Firm may be able to help you file and win your claim in Kansas City, MO.

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How To Submit an Insurance Claim as a Business

Has your business been the victim of theft? Has your business or your stock been damaged by extreme weather? With business interruption insurance, you may be able to file an insurance claim to recoup some of the damages – but you may not know where to start and the process can be complicated if you don’t know and understand your policy.

When you file a business interruption insurance claim, it is important to have detailed records to support your claim and show the profits that were made before and after the loss, theft, or damage. Keep records of any additional expenses accrued in the interruption period or any period of time when your business was forced to remain closed – expenses that can include marketing and utilities.

Step-By-Step Process to File a Business Interruption Insurance Claim

To make it simpler for you to file a business interruption insurance claim, we have created a short list of the steps that you need to take to file a successful claim with your insurance provider here at Saxton Law Firm.

1. Contact Your Insurance Provider and Police – Has your business had product or equipment stolen that will impact your operations? Has your business or inventory been damaged, preventing you from operating? You need to notify your insurance provider as soon as possible to minimize any potential closures for your business. In the event of theft, you also need to file a police report in addition to your insurance claim.
2. Understand Your Insurance Policy – It is vital that you read and understand your insurance policy for your business. The better you understand your responsibilities as a business owner and operator when there is theft or damage, the better the chances you have to file a successful claim. If you struggle to understand the details of your policy, Saxton Law Firm can help you decipher the insurance policy code.
3. Make Necessary Repairs – When you have damage to your property, it is important to make temporary repairs to prevent any potential injuries to yourself or employees. Immediate repairs to vital equipment are an important step to take to ensure you can resume business operations as soon as possible. Make sure to document and photograph any damage to property or machinery and keep damaged parts to provide additional evidence to the insurance adjuster.
4. Get Multiple Bids – Minimize the amount of time your business is down and get a minimum of two bids for the necessary repairs. This information can be provided to your insurance provider to help you get back up and running and win your claim.

READ MORE: Who Is Responsible for the Damages to a Business Property?

We know as a business owner, you may have questions about your insurance policy. You may be asking – how do I file a business insurance claim? We can help point you in the right direction at Saxton Law Firm with this quick guide. Contact Saxton Law Firm for a FREE case review!