No one wants to ever have to make a business insurance claim. But if you do, you’ll want things to be sorted insurance agency as quickly and painlessly as possible.
You never know when the unexpected might strike to leave your business unable to trade. It could be something as simple as a power cut that leaves you without electricity for a few hours or flooding that means you have to abandon your business premises completely.
Whatever the reason, knowing how to properly file your business insurance claim can speed up the process and help you get back to business as soon as possible.
What is a business insurance claim?
A business insurance claim is a request for your insurance company to cover the cost of any losses that are covered in your policy.
Business insurance is made up of a number of different policy types, based upon the type of work you do and the risks your business faces. This means there are a number of insurance policies you might need to claim on.
What can you claim for?
Here are some of the policies you might need to claim on as a business owner.
Public liability insurance claims
Public liability insurance covers the cost of claims made by a member of the public who has been injured or had something of theirs damaged while at your workplace. It also covers you for injury or damage you’re at fault for when working at someone else’s premises. Possible reasons for claiming include:
You’re painting a customer’s house and you spill paint on their carpet
A customer is burnt when you spill hot tea on them in your café
Stock falls from a shelf in your shop and injures a customer
Employers’ liability insurance claims
Employers’ liability insurance covers the cost of any claims made by an employee who is injured or has their belongings damaged while working for you. This can either be on your premises or while they’re working somewhere else. You might need to claim in the following instances:
An employee trips on a loose kitchen tile an injures themselves
You’re an electrician with an apprentice that burns themselves because you’ve not taken out the necessary safety precautions
A faulty ladder your business owns causes an employee to fall and injure themselves while working at a customer’s property
Legal expenses insurance claims
If legal action is brought against your business, legal expenses insurance gives you access to legal advice and help cover legal costs if the case goes to court. It also covers these costs if you take legal action against someone else. Instances when you might claim on legal expenses insurance include:
Cases of unfair dismissal or discrimination at work
Personal injury claims
Damage to business property
Professional indemnity insurance claims
If your business gives advice or offers any sort of professional services – such as accounting or chartered surveying – professional indemnity insurance helps to cover the cost of any compensation you need to pay to your clients. Claims can be made for financial or reputational loss, as in the following circumstances:
A customer’s watch is lost or damaged while at your business for repairs
You’re an IT contractor that loses or leaks confidential information
You give financial advice that causes your client to lose money
Commercial property insurance claims
If you own a non-residential property, commercial property insurance can cover against the cost of damage to your property. It can also protect you from liability for any injuries or accidents that occur on your property, or for loss in revenue during times when you are unable to let your building out. Typical commercial property insurance claims include:
Your building is damaged by a gas explosion
Flood damage to the building means you can’t rent it out until repairs are made
Part of the building collapses and damages cars parked outside
Site Title 