It’s every business owner’s nightmare: a fire, theft or weatherrelated event has caused your company to experience a loss.
It’s also a risk every franchisee takes. Your next move is to file
the claim with your insurance company, but what can you do
to help ensure your claim gets paid?
To begin with, you need to fully understand your policy. The
first time many policyholders actually read their policy is when
their claim gets denied. Give yourself a leg up by looking through
yours, making sure you are aware of the specifics before it’s a
critical need.
Next, heed some advice from Pamela Hans, an attorney with
Anderson Kill, P.C., who deals exclusively with claims litigation.
She provides 10 useful tips for policyholders.
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2015 Issue 1 GearedUp
Give notice early, broadly and often
The sooner, the better. Also, some losses might be covered
under multiple policies and forgetting to notify one of those
carriers could mean leaving money on the table. Check your policies carefully because there are often specific instructions on how
to give notice, down to the person to contact or the form to use.
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Assemble the right team
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