This urges insurance companies to cut corners on fire insurance claims to save money. At the same time, this increasing fire threat has made it essential for organizations to learn how to file fire insurance claims.
Properly filing a fire insurance claim can be handy to get you reimbursed when you lose your valuables in the event of a fire. In this article, William Schantz will highlight five tips for claiming fire insurance for your company. Read on.
5 Tips for Claiming Fire Insurance for Your Company as Per William Schantz
According to William Schantz, here’s is how you can claim fire insurance for your organization:
1. List Your Valuables
Creating a list of everything is vital as you will need to prove the loss to your insurance provider. One of the best ways to make this process easier is to hire a public adjuster. Moreover, you should create a list of everything you own before encountering a catastrophic loss like fire to ensure peace of mind.
One thing to note here is that your list should include everything you’ve lost since this will make it easier to prove your loss. Furthermore, it’s extremely crucial not to throw anything away as this may result in your insurer refusing to compensate you adequately.
2. File Your Claim as Soon as Possible
According to William Schantz, it’s essential to contact your insurance company to get the process started as soon as possible if you encounter a catastrophe. The insurer will need you to submit a list of all the valuables you’ve lost – as proof of loss claim.
Another benefit of promptly filing a fire claim is that you’ll be given priority if many property owners are affected by the fire. Your claim will need to include the following:
- Date of loss
- Location
- Type of damage
- Any injuries that occur
- Description of damaged contents
- A police report
3. Keep Paying Your Premiums
Many business owners tend to stop paying their insurance premiums the moment they’ve successfully filed a fire insurance claim – which is a massive mistake. William Schantz suggests you pay your premiums accordingly to ensure your claim process goes smoothly.
One thing to note here is that your insurance company will have your address on their records – which will make it easy for them to locate and penalize you.
4. Reduce Further Damage
Insurance policies require you to protect your company from further damage after a disaster. This is especially crucial if you have portions that are still undamaged within the company. You can reduce further damage by doing the following:
- By shifting undamaged property to somewhere else
- By adding boards to prevent looters
- By protecting items from roof damage
5. Hire a Public Adjuster
Hiring a public adjuster is one of the best ways to negotiate with your insurance provider. Some people are reluctant to partner with a public adjuster because of their cost – which is between nine and thirteen percent of the final amount that your insurer pays you.
According to William Schantz, it’s better to hire a public adjuster because they might succeed in getting more from the insurer than you would receive on your own.
The Final Cut by William Schantz
Fire insurance claims have become common with the prevalent threat of fire in the United States. These claims urge insurance agencies to cut corners wherever possible. If you run a business and are still unaware of how to file a fire claim, you should learn about it as soon as possible. To clear any confusion, you can take help from William Schantz’s five tips to claim fire insurance for your company.