Orlando, FL —If you have been in business long enough, you’re probably familiar with setbacks. Oftentimes it feels like a roller coaster, when you have a fantastic month climbing all the way to the top, but then the next month you need to fasten your seat belts for the tough ride.
By now, you also know that sometimes it even has little to do with your company’s sales performance or operational logistics. Unexpected events like electrical fires, burglary, catastrophic events like hurricanes, floods or wildfire (among others) are not uncommon in Central Florida.
Although rare, the occurrence of any of these events can even shut down your business for a substantial amount of time.
Should that be your case now, you need to know how to re-establish your normal operations in order to mitigate damage and loss of business as soon as possible.
What do you do and where do you go?
There’s no need to panic. One small, but important part of your business plan includes an adequate insurance policy and you know the importance of choosing the right insurance company and finding an agent who cares and is always by your side.
First things come first — If you have an immediate onsite emergency you contact proper authorities like firefighters, police or an ambulance if medical assistance is required. In the event of an emergency you should also consider an immediate call to the 911 service.
Now you are ready to begin your steps for quick recovery:
- Contact us as soon as possible—We will provide assistance with responding to your loss and filing your claim and may send an adjuster to inspect the property.
- Contact the Police if necessary—As mentioned before, if your business loss is due to a crime, you’ll want to contact the police and obtain a copy of the police report.
- Review your insurance policy—Your policy may specify steps that you need to take when an insurable loss occurs.
- Prepare an inventory—Prepare an inventory of damaged or destroyed items and have a copy ready for the insurance company and/or adjuster along with copies of all receipts.
- Provide proof of loss—You’ll be asked to send a signed, sworn proof of loss containing the information requested to investigate the claim. This must be done within 60 days after the initial request.
- Be ready for the adjuster—Be prepared to have the adjuster inspect the property and examine books and records.
- Document damage to your property—Identify damage to your building and other structures and make a list of everything you want to show the adjuster, for example, cracks in the walls or missing roof tiles. Photos or video of the damage are always a good idea.
- Make temporary repairs if needed—Take reasonable steps to protect your property from further damage—provided the area is safe to access. For instance, if your roof is damaged, placing a tarp over the exposed area will provide a short-term patch to prevent further wind or water losses. If immediate repairs to equipment are necessary, save the damaged parts in case the claims adjuster is interested in examining them. Save receipts for what you spend so you can submit them to the insurance company for reimbursement—and remember that payments for temporary repairs are part of the total settlement.
- Get at least two bids for repairs—Repairs or replacements should be bid competitively in order to provide options and hold down costs.
- Stay organized—Keep copies of all the documents you submit to your insurance company, as well as any paperwork your insurance company provides you. And record the names and phone numbers of everyone you are in contact with during the claims filing process.
Without a doubt, our expert local agents will provide the most professional service to get you through these tough times and help your business continue operating as usual.
Give us call if you have questions or would like one of our courteous staff members to provide you more information about this or any other type of commercial insurance coverage.
For personal insurance solutions visit our sister company Orlando Insurance Center