After an accident or incident, it’s critical for businesses to file claims correctly. When business owners fail to file a claim, they risk not getting the full reimbursement or no payment at all. As a small business owner, getting fully compensated for a claim may be the difference between surviving the incident or closing your doors for good. To avoid troubles, it’s worth knowing what common mistakes business owners make and how to avoid costly errors when filing a claim.
Avoiding Common Business Insurance Claim Mistakes
Mistake: Waiting too long to make a claim
You may be tempted to see if your business can survive without having to file a claim after an incident. However, this is rarely a wise choice. Waiting too long to file a claim can put you at risk of receiving a smaller reimbursement. It’s best to start the claim right away so that the insurer can assess the full damage.
Mistake: Not properly documenting everything
To ensure that you get as much as you can from a claim, document the damage as best you can. This means videoing and taking pictures of the damage before you start making repairs and clearing away mess. If you wait until you’ve cleaned up, you risk not receiving the right compensation your small enterprise needs.
Mistake: Not being prepared
Preparation is key for any business – large or small. Read through your insurance policy to ensure you understand what is and is not covered. This will help you file claims only for perils that are covered, and helps you to spot gaps in coverage which you should address.
When it comes time to make a claim, talk it over with your insurer. To speak to a team you can trust, contact the professionals at Massive Insurance. We are ready to get you the right life insurance coverage today.