I chose to discuss Insurance Claims in this blog because when the time comes, some business owners have never been through the process and may not know what to expect.
As you can imagine, there are many different scenarios that can cause damage or loss to your property. It could be the effects of a variety of storms, an accident, fire, or an intentional attack on your building. The number one tip that I can give you is to call your insurance company in all circumstances (after you call the emergency services if necessary, of course). When someone else is to blame for the damage of your property, do not rely solely on their insurance company to handle the claim because it often slows down the process. Get your insurance provider involved early to assist you with communicating with the other insurance company and expedite the process.
Additionally, if the damage is to your building, your insurance provider may recommend that you get three contractor quotes to determine a cost to repair. However, as the owner of the building, you have the right to request your contractor of choice without having to obtain multiple bids. Use the contractor that you trust to give you the best value and quality for your repair.
On www.insweb.com, I found a few good tips, like, making necessary “make-shift” repairs right away so additional damage doesn’t happen. However, be sure not to throw away any items removed during clean-up, so the insurance adjuster can see them. Also, it’s a good idea to keep pictures of your property on file prior to any damage, so the adjuster can compare after damage. Also remember, whenever you make updates to your property, be sure to take new pictures.
Below, are typical questions that may be asked when you call your insurance company, according to www.nationwide.com:
- What has been lost or damaged?
- When did the loss or damage happen?
- How did the loss or damage happen?
- What actions have you taken since the loss or damage happened?
- What is the approximate cost of repair or replacement?
Your insurance company understands that you may not know all the answers to these questions during the initial phone call, but it’s a starting point to help determine the value of your loss or damage.
I hope that you never have any sort of issue that requires you to make a claim; however, Wolgast can help you make building repairs if you do. Please call me at 800-WOLGAST.Wolgast has no affiliation with either insurance company referenced above and is not for or against endorsing their services.