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How should business owners report damage after a disaster?

After a natural disaster, your business may face serious structural and property damage. These losses can quickly add up, and without insurance reimbursement you may find yourself in financial hot water. Unfortunately, even with proper coverage you run the risk of claim denial. How can you increase your chances of executing a successful insurance claim?

 

Key steps to secure reimbursement

After a serious accident, such as a fire, earthquake or flood, you may be overwhelmed by the extent of the damages and unsure where to start. To increase your chances of securing compensation, follow the subsequent steps:

  1. Thoroughly describe the incident. After the natural disaster, record the date, time and severity of the incident. Start an incident folder in which you can gather all information related to the event including claim papers, bills, photos and notes.
  2. Document all damage.You need to thoroughly document all incurred structural and property damage. Start in one corner of your business and detail every item affected during the disaster. Slowly fan out from there to insure that you do not miss anything. Take pictures along with a written description. If there is a large amount of damage, you can hire an experienced professional to help you thoroughly evaluate and detail the losses.
  3. Contact your insurance company. Call your insurance company soon after the incident. If you wait too long, you may no longer be able to submit a claim. Document all interactions with your insurer including date, individual you spoke with and what was said.
  4. Execute your company’s claim procedure. Your insurer will ask for a full report of the incident and a detailed list of damages. Carefully complete all steps and submit your report in a timely manner. You need to prove the veracity of your claim and the full extent of damages in order to collect the amount that you are due.

If your claim is denied, you still have options

If your claim is unfairly denied, you may still be able to secure reimbursement. An insurance company who unfairly delays or denies a claim may be acting in bad faith. Contact an attorney who can evaluate whether your insurer is failing to provide coverage, misleading policyholders, delaying just payments, offering unreasonably low reimbursements or otherwise failing to uphold their duty. If the insurer is found to be acting in bad faith, you may be able to gain the compensation that you deserve.

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The Law Office of Jessica Taylor, PLLC

The Law Office of Jessica Taylor, PLLC
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San Antonio, TX 78232

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Phone: (210) 402-4022
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