Like many business-related tasks, navigating an insurance claim is most successful when you can be precise, thorough, and prompt. Most businesses find they have the most success handling insurance claims when they are filed promptly.

However, that doesn’t mean that rushing is the right call. When dealing with water damage insurance, filing your claim correctly is essential to ensure you can get back to work as quickly and easily as possible.

As water damage restoration experts, we’ve seen lots of situations involving commercial insurance and have many tips for navigating the claims process. While it may feel overwhelming, particularly in the aftermath of a natural disaster or other crisis, familiarizing yourself with the first steps will help. 

What Claims Will You File With Your Water Damage Insurance?

There are several types of claims that can be filed with your water damage insurance company. Two of the most common are: 

• Property damage claims: Any damage to the physical assets of your business, including buildings, inventory, or equipment, falls under this claim. For example, flood waters leading to mold in a building or stock loss due to a faulty sprinkler system would fall into this category.
• Liability claims: If an injury or damage is caused to a third party, this would fall under liability claims. For example, the loss of a staff member’s personal equipment or damage to a customer’s belongings would fall under this category.

Tips for Navigating the Commercial Insurance Claims Process

Regardless of the type of claim you file, there are specific steps you should take to ensure your claim is processed smoothly with minimal requests for additional information or clarification.

1. Review your policy

As soon as possible, review your insurance policy to ensure the damage that occurred is covered. Reviewing your policy should also help you determine the necessary next steps since it can vary depending on the insurance provider.  

2. Document the damage thoroughly

As soon as it’s safe, start documenting the water damage to your business. This can include (but is not limited to) taking videos and photos and making detailed notes. Additionally, you should start a list of all affected property, inventory, and equipment immediately. This should be communicated to your water damage restoration partner, so there’s no danger of them throwing things out or making changes before you’ve fully documented the damage.  

3. Communicate effectively with insurance providers

Once you file your claim, which should always be done according to the provider’s specific instructions, it's crucial to communicate effectively with your assigned claim agent. Open and transparent communication helps ensure you’re giving the correct information so your claim can be processed promptly and accurately.

4. Work closely with your water damage restoration partner

Once you’ve secured a water damage restoration partner, keep them informed about the progress of your insurance claim. This ensures they are aligned with your claim details and can provide any necessary documentation or support required by the insurance company.

Want to know more about how a company like Dry Kings can help you navigate this complex process? Contact us today to see how we can support the recovery of your business.