Posted on September 08, 2023 | by | Posted in Insurance
We all know that claiming insurance can be a long, daunting, and even frightening task. More often than not, we are unaware of the process, how it all works, and even the policy we have. Well, we are here to tell you that claiming can actually be a smooth process, but there are some things you need to understand first. Throughout this article, we will explain to you a few simple steps you can take to make your claim as easy as possible. Of course, every claim is different, and sometimes, it isn’t even worth claiming but being aware of these basic guidelines can help you when you need it most.
This has to be the most important thing when you are claiming for your business. Everyone is aware of the outgoings when starting or running a business, but spending a little more can be worth it when there is an emergency. All of us like to be over-optimistic when purchasing our insurance, but the truth is, we have insurance for a reason.
It is crucial to understand the policy you are purchasing and if it will cover absolutely everything that can go wrong. From our years of experience, we will tell you that it is certainly worth paying a little extra. Also, before you pay, don’t just read the key points of your insurance. You need to take the time to read everything so that you are fully aware of when you can or can’t make that all-important claim.
Over and over, we have encountered people attempting to claim more or give slight exaggerations when making their claims. This is an absolute no! When people try to do this, they will come across tremendous barriers and often, do not receive a pay out. Insurance companies are very aware that they need to give customers the compensation they have paid for, but when untruths are thrown in the mix, it never goes down well.
From the very moment you start your business, you should keep a detailed log of everything. This means that your insurance company will be aware of everything from the moment your policy begins. Having the correct information to hand will also save heaps of time if you need to make a claim. Also, if you haven’t accurately logged everything, you risk falling into the category of giving false information.
Another thing you should do before you purchase your insurance policy is to understand the claim process. As long as you are using a reputable company, it shouldn’t be too difficult, but it is still good to make sure you are happy before you pay. Not all companies have the same process, so make sure you find one that suits you and can be processed in the right amount of time.
Remember, every time you claim on your insurance, your premiums might increase, depending on the policy and your insurance provider. Before making a claim, it is worth running through it with your accountant and the insurance company first. Unfortunately, some claims just aren’t worth it. Again, this is something that should be considered when you are browsing the market to make sure you get a deal that suits your needs.
To keep it brief, here are some steps that you should take to make sure your claiming process runs as smoothly as possible
If you need any tips on making an insurance claim or are looking for a new insurance policy for your small to medium-sized business, Matrix Insurance is a 100% Australian run insurance broker who is here to help you. With access to over 120 underwriters and insurers, we can find a policy that suits the needs of your business. Contact us today to find out how we can help you in those all-important times.