How to file for Commercial Claims?

In order to be able to receive the right compensation for the damage, it is very important that policyholders know how to claim for their losses. It is often noted that small businesses file for claims that are not included in the insurance policy. Therefore not receiving any compensation or receiving very little for all the financial loss that the business has faced.

Following is a step-by-step procedure you must follow when filing for commercial claims:

  • Document and gather evidence for all the loss

The first thing to do after suffering a loss is to document all personal belongings that are damaged or lost because of the unfortunate event. Make sure to take evidence to support your claim. Evidence can be pictures capturing the damage, CCTV camera footage, or testimonies of witnesses that’s where present during the event. 

  • File a police report

If the unfortunate event is serious such as a crime on the business premises, a car accident, or a theft then it is recommended to not temper the scene. You must call the police and report the incident that has taken place. The police will then create a report of the incident which will also need to be submitted as a piece of evidence when filing for your insurance claim.

  • Get in touch with an insurance adjuster

You may either contact an insurance adjuster after filing for your insurance claim or before. An insurance adjuster will be able to assist the client will inquiries regarding the procedures of the claim, the estimate of the loss, and the estimate of possible compensation after reviewing insurance policy. 

Requirements to file commercial insurance claims

It can get very overwhelming to have gone through situations that compel policyholders to file for commercial insurance. Following are required when filing for commercial insurance claims:

  • Documentation regarding the loss. This includes auto, property, general liability, or workers’ compensation that you are planning to make a claim for.
  • Complete description off when the incident occurred, any personal injury that occurred, and the estimated amount of total loss.
  • Method of contact and information for all the parties involved.
  • The insurance policy to which the client is going to make a commercial claim.

Why hire Public Adjusters to file for commercial claims?

There are various reasons to hire a public adjuster. Policyholders may choose to hire adjusters where a large sum of compensation is involved. However, this is not the only reason. Following are a few other reasons why policyholder may choose to hire public adjusters:

  • The claims application process is complex, therefore policyholders that are not aware of the procedure are likely to hire public adjusters to understand the complexity. Adjusters assist policyholders to comprehend the cost of damage and calculate the total loss.
  • This process is very time-consuming. When a situation to file for a claim arises, there are a lot of other things that business has to sort. During these situations, public adjusters could handle the claims process for businesses giving them more time to fix other important matters.
  • Disputes may arise between the insurance company and policyholder regarding the assessment of the claims. Public Adjusters are skilled and experts, therefore more likely to obtain a higher settlement claim for the damage.
  • There is often a lack of communication issues between the two parties which could result in disagreements. As public adjusters have years of experience, they are skilled communicators and are able to expedite the process.

Whether your insurance coverage, insurance negotiation size, or if you would certainly like a free case evaluation we urge you to give us a call.

California, call us now at 866-557-8650 for any inquiry on Commercial claims, policies, and compensation issues and we will be in touch with you within 24 hours.