When a loss or an accident occurs in your business that demands you to make a claim under your commercial liability insurance policy, there are few steps that you must follow:

  1. Contact your insurance agent: This could be the person who has helped you acquire the policy and is like an insurance portfolio manager for your business. Find out the timeline and the process required.
  2. Report to the concerned authorities: If needed, depending upon the nature of the damage.
  3. Fill the insurance claim form: (physical or online) with truthful and exact details to the best of your knowledge. Do this within the documented time limit from the loss as per your policy.
  4. Contact your insurer: The company will scrutinize the claim form and generally send an insurance adjuster to assess.
  5. Collect evidence: This will be needed to produce before the adjuster as proof of loss.
  6. Keep detailed records: This included video footage, images, and operational records. Add these to the completed form that you hand to the adjuster.
  7. If damage requires professional assessment and repair, ensure that the people hired are competent enough.
  8. Contact reputed and experienced legal counsel: if needed. This should be an expert in handling such matters.
  9. Follow up regularly: Contact the adjuster at regular intervals to ensure that your claim process is making headway.

Click here to know what is not covered under Commercial Liability Insurance

Case for Commercial Liability Claim

‘The Tandoor’ is a popular restaurant owned by Anurag Dhir. Anurag recently got new sofa upholstery to improve the look. One noisy family with naughty children drops juice on the newly done up sofa and stains it. The family quickly leaves after paying the bill, without him noticing the stain. On top of it, Mr. Sharma, a regular customer comes and chooses the same spot to sit. He is wearing a stark white expensive suit. His suit gets an orange stain from the wet spill. A week later, he comes back with a dry clean bill for the spoiled suit and a bill for a new business suit he bought, expecting Anurag to reimburse the both. Not to mention, the huge money Anurag has had to spend to get the sofa cleaned.

Anurag contacts his insurance portfolio manager, who advises him to fill the commercial liability insurance claims form. Anurag had taken pictures of the stain on the sofa. The CCTV footage also shows clearly the family leaving and the accuser entering in quick succession. Anurag attaches both these proofs when the adjuster arrives to assess the damage.

He is advised to get legal viewpoint via a recommended expert lawyer. They refused the new business suit expenses, convince Mr. Sharma of the same and Anurag gets compensation for the dry-cleaning bill and legal expenses.

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