How to File a Business or Commercial Insurance Claim with Ease
October 8, 2022 
Photo: Hortica
Part of the responsibility of owning a business is filing insurance claims. Severe weather, natural disasters, injuries, theft, and equipment failure can all cause losses for your business. And, no doubt, the reality of rising transportation costs, crop challenges, and ongoing hiring issues have given you more than enough to deal with on a daily basis.
Whether you face a significant hardship or a minor incident, you — or your staff — can play a big part in how smoothly the claims process goes. With preparation and the help of your insurer, you can file your next claim with confidence and get your business back up and running more quickly. To help, I put together five tips to help you manage your claims with ease.
Understand Your Insurance Coverage Ahead of Time
Before damage or an incident occurs, it’s important to know what is and isn’t covered in your insurance policy. If the language seems unclear, contact your agent. They’ll be happy to review your coverage with you to help you better understand how it applies to your business.
Regularly reviewing your plans will also highlight any gaps in coverage you may have and alert you to the timing you need to follow for reporting claims.
Contact the Proper Authorities
When the unexpected happens — and you’ve assessed the damage and protected your employees, customers, and inventory — the recovery process should begin as soon as possible.
• In cases of vandalism and theft: Contact local authorities and file a report. If there isn’t a police report on file, some insurance companies won’t pay for losses incurred.
• If an employee or customer is injured: Seek medical attention as soon as possible on their behalf. If it is a serious injury, call 911.
• If an accident occurs while you’re in a company vehicle: Move to a safe place and contact the police. If there are serious injuries, call 911.
Details matter, So Gather Info and Take Photos
Taking the time to detail the incident prior to filing your claim will help speed up your claims process. Provide as much information as available and double-check its accuracy to avoid unnecessary delays later. Use the following checklist as a reference:
• Account name and policy number
• Date, time, and location of the incident or damage
• Name and contact information for the person reporting the incident/damage
• Detailed account of what happened and who was involved
• A police report, if one was filed
Not surprisingly, photos and video are a crucial part of any claims process. If safety concerns aren’t an issue or additional damage won’t occur, take photos and video prior to making repairs or cleaning the area so you have a more accurate record of the damage incurred. Always take more photos or video than you think you’ll need and ensure the area is well lit. With camera in hand, remember to take photos and videos that capture:
• The surrounding area from a wide angle
• The affected area from a variety of angles
• Closeups of the damage
Contact Your Insurance Carrier to Report the Claim
Once you’ve thoroughly recorded the damages and details of the incident, contact your insurance carrier to report the claim. The first notice of loss (FNOL) is your initial report to your insurance company, and it sets your claim process into motion. It’s important to act early. Some insurance companies require the FNOL within a certain amount of time based on the insurance plan.
The way you submit your claim can affect the ease of the process as well, which is why these tips can be so helpful for you and your team. A phone call to your insurance agent might start the process faster. If you submit your claim via email or an online portal, it can add up to 48 hours for the claim process to begin. Either way, making sure you have plenty of documentation will help.
A claims adjustor will take over and gather additional information to determine the amount of your insurance claim settlement once the FNOL is complete. Your adjuster will ask for the detailed information you’ve gathered at this point.
Document and Follow Up
Following a loss, you must advocate for your business. Keep good records, make duplicates of information, photos, and videos you gather, and document your claim in writing.
Complete an incident report for your business. If this isn’t something you’ve normally done as part of your loss control program, it’s important to add it.
• Record all the details of the incident
• Keep an accurate timeline of where you are in the claims process
• Check your report against what the insurance company provides to catch any errors or inaccuracies
• Bring any discrepancies to the insurance company’s attention as soon as possible
• Contact the company for updates if they haven’t contacted you
Your Insurer Is There to Help
Don’t be afraid to rely on your insurer’s expertise. Trained claims professionals will guide you through the claims process and help you determine what vital information you need to file your claim.
Though claims management can be a lengthy process, it certainly doesn’t have to be. This is why having an insurance provider who knows your business and understands your industry is so important. Insurance helps protect you and gives you peace of mind — all so you can get back to the business of cultivating your business, growing crops that your customers love, and planting the seeds for a happy workforce.
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