3 Ways to Expedite the Insurance Claim Process

People today expect everything to happen quickly, if not instantaneously. From two-day shipping on Amazon Prime orders to ridesharing mobile apps that require just a couple screen taps, people have been wired get exactly what they need with little time and effort. This same notion rings true for submitting business claims, which can be a time-consuming and labor-intensive process. Especially today, individuals and businesses expect their claims to be processed quickly with minimal room for error. While every situation is unique, there are a few ways to speed up the claims process.

Report right away

When any type of crisis occurs, it’s best to call for help immediately. The same goes for submitting a claim. Reporting an incident as quickly as possible allows the claim process to get started immediately and ideally be approved promptly so you can receive your money when you need it most. If your building is damaged to the point where it is exposed to the elements or needs to be protected from further damage, contact a contractor to perform emergency repairs. The insurance company will also send an adjuster to your business to inspect the damage, analyze the scene, and determine the estimated coverage.

Log evidence

When you are in a car accident with another vehicle, one of the most important first steps to take is to photograph any destruction and exchange personal information on-site. When your business undergoes severe physical damage, the same rule applies. When in doubt, document everything! This includes, of course, taking pictures of damaged assets when it’s safe to do so, ensuring physical proof. The more detailed information you provide to the claims specialist upfront, the more thorough the claim and the quicker the issue can be resolved.

Be proactive

Many of the opportunities to expedite an insurance claim occur before a disaster even happens.

  • It’s a smart decision to create an inventory and regularly keep track of it so any losses are testified accurately. Make note of all valuable possessions and their monetary worth.
  • Keep separate copies of important company documents secure.
  • Back up your online files daily or keep hard copies handy in a safe location (e.g., fireproof and waterproof safe or a safety deposit box).
  • You will likely be required to fill out a proof of loss form; be sure to do so punctually and accurately. The more you have saved and protected proactively, the quicker your company can recover after an unexpected loss.

Suffering any type of loss is stressful, but when it comes to business claims, staying proactive and using preventative measures are highly recommended. That way, you can be confident that your assets are covered and you will have a successful outcome to your claim. If you have questions or need assistance submitting a claim, contact your Rural Mutual agent.