Making insurance claims can seem daunting to many business owners, particularly for those with no accident history. As the insurance claim is the first step to recovery, it's important to understand what to do.
In the event that you need to make an insurance claim, you should quickly inform your insurance provider, and if necessary, report any incidents to the police or other relevant authorities. You should also make sure you have detailed documentation about how and when the incident occurred, and how it has affected your business.
If you need to undertake emergency repairs to minimise or prevent further damage to your business or your assets, check your policy details first to be sure that any repairs you make will still be covered. Keep copies of all invoices and bills so you can provide these to your insurance provider.
You also need to consider whether paying for any repairs or replacements yourself will be better value for you than paying your excess for the claim.
Remember: it's important to be completely frank when providing details for a claim. If you need to add details later, you may be investigated and your payment may be delayed or refused. Any claims you make will also affect your future insurance rating.
What to do...
- Read your insurance policy carefully to understand what you can and can’t claim, and contact your insurance provider if you need further clarification.
- Read Legal Aid Queensland’s guide for help getting an insurance claim paid in the event of storms, cyclones, and floods.
More information...
