Being a business owner is stressful. With the heavy amount of responsibility and stress associated with running a business, sudden loss caused by damage to your property or theft can completely derail your plans. Dealing with insurance companies for business interruption claims can be a hassle that seriously negatively impacts your ability to support yourself and your family. Don’t risk losing your business and livelihood because of a denied claim. Here are five tips for filing business insurance claims! 

Keep Track of Your Property and Expenses 

It’s a good idea to track expenses related to business equipment, inventory, and other business costs for a number of reasons, not the least of which is for insurance claims. Just like if your home is damaged by flooding or fire, proving the value of lost items is vital. Having an itemized list of business-related property and valuables can help to expedite the claims process. It is also useful for investigators and police who may be involved in attempting to recovery your property in the case of robbery and theft.  

Be sure you have an electronic copy of this itemized list as well. Paper copies may be useful for business operations, but if you experience a total loss of your commercial property being able to access these records is crucial. Keep your records regularly updated, including receipts to help your insurance company determine loss value. 

File a Police Report Immediately 

If your business interruption claim is caused by vandalism or burglary, contact the police immediately. Having a record of the incident like a police report helps to validate your claim. Moreover, they can help to secure your property and ensure your safety before entering the premises. Be sure to get a copy of your police report for the claims process. 

Gather Financial Records for Lost Profit Claim 

If your case includes a business interruption claim, being able to prove the anticipated profit for the business restoration period is necessary for proving your claim. Presenting projected sales amounts and other evidence that supports your claim can help prevent coverage denial. These claims typically apply to cases in which a business cannot be operated due to repairs, construction, or relocation. Awards for these claims are determined on a case by case basis.  

Consult an Insurance Adjuster for Business Interruption Claims in Florida 

At the end of the day, your insurance company’s claims adjusters are working for their best interest. Their job is to determine the lowest possible pay out or deny your claim entirely. Working with in independent public claims adjuster in South Florida puts the power on your side. Cohen and Associates Public Adjusters are dedicated to you and getting you the money you need to get your business back on track. As a third-party insurance adjuster, we are able to review the details of your case and find the full value of your claim. We fight on your behalf to get the coverage you deserve. 

Follow Through 

Passively waiting for your insurance company to determine the future of your business can drag the claims process out for years. Staying on top of the process forces your insurance company to pay attention to your case. Cohen and Associates Public Adjusters is experienced in dealing with even the largest insurance companies to get you the results you deserve.  

If you have a business interruption claim and you need help getting the money you are owed, let us help you. Contact us today! 
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