Has Your Business Been Affected By Hurricane Sandy? Understanding Your Insurance Can Help You Get Your Business Back In The Black
How to file a Business Claim "Business owners who have suffered losses need to contact their insurance company or agent as soon as possible to start the claims filing process," urged Worters.
The I.I.I. offers these four tips to get the claims process started:
- Read your insurance policy carefully so that you know what your responsibilities are after a loss.
- Take steps to protect your property from further damage by making temporary repairs. If immediate repairs to equipment are necessary, save the damaged parts in case the claims adjuster needs to examine them.
- Get at least two bids on the cost to repair or replace damaged property. When filing a business interruption claim, be able to show the income the business was generating both before and after the loss.
- Keep detailed records of business activity and the extra expenses of keeping your business operating in a temporary location during the interruption period. If you are forced to close down, include expenses that continue during the time that the business is closed, such as advertising and the cost of utilities.
THE I.I.I. IS A NONPROFIT, COMMUNICATIONS ORGANIZATION SUPPORTED BY THE INSURANCE INDUSTRY.Insurance Information Institute, 110 William Street, New York, NY 10038; (212) 346-5500; www.iii.org http://www.facebook.com/InsuranceInformationInstitute http://twitter.com/iiiorg http://www.linkedin.com/company/insurance-information-institute http://www.youtube.com/iiivideo https://plus.google.com/113369356227754162778
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