How To Get the Most Out of Your Insurance Claim

6/1/2022 (Permalink)

How To Maximize The Value Of Your Insurance Claim

Disaster claims can be stressful. Knowing the process for dealing with an insurance claim can help you get a settlement quicker, so you can hire a remediation company, such as SERVPRO, and get your Redlands, CA, business open again. Being prepared ahead of time can also help you get more out of your insurance company. Here are some steps to take for a quick and thorough settlement.

React Appropriately

Right after your loss, things are going to be chaotic. While you need to think about contacting your insurance company promptly, you should also take the time to react to the situation properly. This includes:

• Preventing further loss
• Salvaging items
• Photographing the damage and compare it to your inventory list
• Avoiding throwing items away

Know Your Policy

Your policy has several key aspects that will be outlined on your declarations page. This document is confusing, so take extra time before a disaster to read and understand it. This can help the insurance claim process go smoother when you experience a disaster.

Call the Insurance Company

The biggest mistake a business owner can make in the face of a disaster is to delay making your insurance claim. Therefore, your first call should be to the insurance company to figure out your deductible, what will be covered, and what disaster restoration service they recommend.

Expect Extra Funds for Business Interruption

If you have a business interruption clause on your policy, you can expect extra funds for that. This will cover your lost income when you need to shut down your business and any extra expenses you have due to the interruption. This can include funds for new communication lines, a temporary location, extra transportation costs, or anything else you would not have incurred without the disaster.

The best way to get the most out of your claim is to understand the process and react appropriately. Additionally, you can discuss your extra clauses with your insurance agent and ensure you get any funds you are entitled to.