Business Owners, Increase Security

After researching the experience of business related theft claims, business owners should take extra precaution from theft by installing alarm systems for increased security.

I recently read a story of an Insured who experienced a break-in. Unfortunately an abundance of items was taken. Some of the equipment that was stolen made it hard for owner to operate the business. These types of claims can take time to settle. With this particular case, the claim still had not been settled for 2 months. After some research I’ve read of business owners who have gone 4 months without a settlement. Could you imagine going without your equipment for 4 months. What a pain!

As the same with homeowners insurance, you must always take an inventory of your business equipment and supplies. As equipment is brought into the business register it with descriptions, serial codes, etc. for in the event of a theft. Having a detailed list with pictures included is very beneficial and will help expedite the claims process. Some go as far as making a video recording of each and every room. It’s not always easy remembering all you had if one day you get to the office to see everything gone.

While it seems there isn’t any specific time frame within which the Insurance Carrier will fulfill the promise to settle the claim, Business owners may also simply try to expedite the settlement process by staying in touch with the Company. Keep in mind nothing ever seems to get done faster by being pushy. These Adjusters have several claims to handle each and every day. Simply keeping in touch keep will help them stay reminded of your claim.

Note: Sometimes the Claims Adjuster will not be able expedite the process if it’s in the hands of the company attorney. However, by staying in touch may help increase efficiency.