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