| Everything seemed pretty simple when you | | | | you to report a loss within a certain |
| purchased that insurance policy. If you have | | | | timeframe, usually 2 - 4 weeks. |
| a loss, just tell the insurance company about | | | | |
| it and you will get paid - Right? Well.... it | | | | Call your agent. Many insurance companies ask |
| may not be quite that easy. There are some | | | | that you report your claim directly to the |
| basic steps you should follow to make sure | | | | claims department. This is more efficient for |
| your insurance claim is paid quickly and | | | | them but not necessarily better for you. Your |
| fully. | | | | insurance agent may represent the company but |
| | | | his income depends on keeping his customers |
| Prepare - in advance. The single most | | | | happy. Independent agents, in particular, are |
| important thing that will make your life | | | | small business owners and owe their primary |
| easier in the event of a loss is to be well | | | | loyalty to their business. If you're a small |
| prepared in advance. Do you have offsite | | | | business owner, your insurance agent |
| copies of your computer files? What about | | | | understands that his business depends on |
| paper files? If this is some kind of property | | | | keeping his customers happy. |
| loss, you will need to document the value. If | | | | |
| you have to try to reconstruct records that | | | | Keep in touch with the adjuster. Ultimately |
| were destroyed, it will delay your insurance | | | | the insurance company will assign an adjuster |
| payment and make it much harder for you to | | | | to work with you to estimate and pay the |
| prove the value of your loss. | | | | loss. Work closely with the adjuster and |
| | | | respond quickly and completely to his |
| Estimate your loss. While it may not be | | | | requests for information. The easier you make |
| possible to know the full extent of the loss, | | | | his job, the quicker you will get paid. |
| develop an estimate. If it is close to or | | | | |
| below your deductible, you are probably | | | | Consider an independent adjuster. If your |
| better off not filing the insurance claim. | | | | loss is large and complex, it may pay you to |
| Your rates will be based in part on your | | | | hire an independent adjuster to work on your |
| claims history so there is no advantage to | | | | behalf. If you do decide to take this step, |
| you in filing a claim you will end up paying | | | | make sure you hire an adjuster who has |
| for out of your own pocket. Be careful, | | | | experience with your type of business loss. |
| however, as most insurance policies require | | | | |