If you’re reading this blog, that means you’ve got insurance for your business. That is great! But the journey doesn’t end there. Once you run into a problem, you need to know how to process the claims as well. So let’s get right to it!
Getting your claim is a four-step process and to begin, we’ll discuss those steps in detail. We’ll also give you some tips on how you can help your case and make it easy for yourself to get claims from your Business Insurance.
Process Of Claims
Get In Touch With Your Insurance Provider
Grab a pen and paper first! Before you do anything at all, first you need to make sure you get in touch with your insurance provider. Speak to a qualified professional and explain the whole scenario to them. Once you get a clearer picture of the procedure, you should also inquire about the realistic timeline of the entire process, the insurance process flow and what you can do to shorten it. The concerned team of the insurance provider will help you with all the details, so make sure you note all of it down in the paper we talked about earlier and keep it ready when you’re filing for a claim.
Reporting The Incident
Depending on various factors of the incident and the different types of business insurance, the process of the claims and the authority to report it to may vary. With the guidance you received from your call earlier, note down the details of the incident in a document and report the incident to the concerned authority. Make sure you keep a copy of your submission with yourself. You will need that copy to file your claim along with the details of the action the said authority took once they were aware of the incident.
Getting Familiar With Your Insurance Plan
After you’ve reported the incident, knowing what your insurance plan covers and how far you can stretch it is really important. Read through the fine lines of your policy and understand what you can acquire claims for. Along with that, you should also gather the following details as they will be required when you’re filing for the claim:
- Name of the individual entitled for the insurance
- Contact details mentioned in the policy
- Name of the business as per the document
- Your policy number
- The type of coverage you are opting for to process the claims
Once you have all the information, you can proceed to the next step.
Filing for the claim with your insurance provider
After you’ve gathered everything, the next step is to file an official claim with your insurance provider. Navigate the page you need to get to for submitting your claim. Mention all the details including that of your policy and your claim. You also need to mention every little detail that leads to the incident and also the claim thoroughly. Dates, places, all the steps you have taken before filing the claims also need to be mentioned precisely and clearly. If there was an injury in the incident, you should also mention the details of the injury and all other medical support the injured may require. You can also provide details of any other policy you hold that may help ease the load on this claim. In the end, the most important aspect of the process, enter the correct estimation of the amount of claim you require considering all the factors involved.
Stick to these four steps and remember that you can always get in touch with our agents for any followup questions.
Gather As Much Evidence As You Can
Remember that anything related to the incident can help you in the process of claims. Gather all the evidence you have, even if it’s a minute detail, to allow your insurance provider to get the whole picture of the incident. That will help them understand the situation better and make it easy for you to process the claims.
Keep Detailed Records Of Every Conversation Leading To Claim
Record details of everything that lead to the claim, including your conversations with the representative of the insurance provider, the other authorities involved and the individual, if any, who was injured due to the incident, the timeline of the incident and your communication with the insurance provider after the claim was processed. This will only help you act promptly should there be any obstacles in the claim or if you require more clarity of the situation.
Hire Legal Help
Just in case the incident brings in a lawsuit, hiring legal help to guide you through the process and handle the situation more efficiently is always advisable.
Keep Following Up With Your Insurance Provider
Of course, we will keep you updated about everything, but you should also actively try to stay in the loop with the process and having all the information at every stage will only help you prepare for the next chapter of the process. Follow up with your insurance provider and keep track of your claim at every stage to make sure everything is in order.
These were all the factors you should keep in mind to make it easy for yourself to process the claims. Of course, things may vary depending on the incident, the kind of business insurance you hold and some other factors that are not always predictable, but if you follow these guidelines and pay attention to every detail, you will only make life easy for yourself. If you still have more queries or want detailed information about filing your claim, we are by your side all through the process. Get in touch with our representative at 855-5EXEED and we’ll be there to help!