Dealing with Insurance Claims and the Process of Filing an Injury Claim

Small, mid-sized, and big businesses all need insurance to protect themselves against things like damage, theft, accidents, and liability.

When your business experiences a loss due to such reasons, you will need to file an insurance claim.

As long as your claim is approved by your insurer, you can then receive financial compensation to cover your losses.

By knowing how to properly file a business insurance claim, you’ll be able to recoup money and get your business operations back to normal much more quickly.

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Dealing with Business Insurance Claims

When you have multiple business insurance policies like general liability, workers’ compensation, and commercial property insurance, you’ll be protected against a wide array of potential issues.

For instance, if your commercial premises are vandalized or damaged in a storm, with the right policies in place, you can make an insurance claim to receive monetary compensation.

Once you submit your claim, your insurance company will investigate it. After approval, you’ll receive the compensation.

And in liability cases, your insurance company could payout to the third party that has been affected. For instance, if someone should slip and fall on your commercial premises, the individual could file an injury claim.

In such cases, it can be a good idea to consult with professional personal injury lawyers who have a wealth of experience.

A lawyer can also help you to gather together documentation and give you advice for any kind of claim, which can be very helpful if you need to resolve any disputes that arise with your insurance adjuster.

Filing an Injury Claim

If someone is injured due to your company’s negligence, he or she could file an injury claim.

People who are injured in accidents should file a police report as well as an insurance accident claim. The latter should be filed with both parties’ insurers.

If the claim is approved, the injured party can receive compensation to cover things like medical costs, loss of wages, and pain and suffering.

The Injury Claims Process

Whether you’re someone who has been injured on business premises or you’re a small business owner who is being held liable for an injury claim, the basic claims process remains the same.

Firstly, the insurer will open an investigation into your claim. An insurance adjuster will be assigned to your case.

The adjuster will ask you to provide any photographs you have of the accident scene, the names of any witnesses, and any other details that could help prove whether the claim is valid. So, remember to get witness contact details and take photos, if you can, at the time of the accident.

Once the claim is approved, the insurance company will calculate the value of the claim and issue a settlement check.

What to Do if Your Claim Is Denied

If your insurance claim is denied, all is not lost.

Your first step is to negotiate with the insurance company. If that is not possible or the negotiation fails, you can formally appeal the decision.

If your claim is still denied, you should contact an experienced lawyer who can advise you of your other options.

The same steps should be taken if your claim is approved but the amount of the settlement is inadequate.

The Takeaway

Regardless of the type of insurance claim you could be dealing with, make sure you have adequate insurance in the first place.

You should also take steps to prevent claims from happening. For instance, if you have a store, make sure wet floors are well signposted to stop customers from slipping.

Even with precautions in place, you could have to deal with an insurance claim at some point. So, familiarize yourself with the above points. You can then be ready to handle a claim when it happens.  

Adam Hansen

Adam is a part time journalist, entrepreneur, investor and father.