Eleven Business Insurance Tips For Business Owners – Guidance From A Certified Professional Public Adjuster

experience a loss) and establish whether or not your business requires a policy that is more appropriate to your current  needs.

 

Know your co-insurance clause (if applicable). This will help you know how much  money you will need to contribute to the  loss.

Know your rights within the policy language. For example if the insurance company asks for your tax returns YOU MIGHT NOT BE REQUIRED TO PROVIDE THEM TO SETTLE YOUR CLAIM.

If you do have a claim, do not accept the first offer you receive from the insurer as a final settlement.

The insurer is required to pay you the “undisputed” amount of the insurance proceeds immediately.

If an insurer pays you a portion of what you believe you are entitled to, you are free to accept that amount, and use those proceeds. This does not mean that you have accepted that amount as a final settlement. This simply means they have made a partial payment to you. The insurer is not supposed to add language onto a claim check that says you are accepting it as the final settlement amount.

Before accepting any final settlement offer from an insurer, be sure that the offer has been reviewed and analyzed against the insurance policy so that you know ALL insurable damage has been included and adequately addressed.

Do not speed through the process. Take your time. While you may believe that the fastest resolution of your claim is best for you, it usually isn’t. The insurer needs adequate time to investigate the claim. Your