How to file insurance claim for business interruption?

claim In the present age of globalization, the business scenario has become ever so dynamic that it has difficult to predict the near future. All of a sudden business houses seem to go in for liquidation just when it seems to one of the major players in the stock market.  Such state of affairs calls for the businesses to take insurance on future contingencies that may interrupt the smooth running of the business.

Step 1: In order to file in for insurance claim for any such business interruption, one has to be extremely cautious so as to make any wrong move in haste.

Step 2: Firstly, one has to get in touch with the respective company or agent who provided the insurance.

Step 3: Then you need to ask for all the formalities that are required for making that claim. The most convenient way would be to ask the agent to come over to your place with the relevant papers or documents. At this point of time it would not be a bad idea if you could go through the terms and conditions of making claims stated in the insurance policy taken for business interruption.

Step 4: After assuring yourself of having complied with the same and cross checking any of the loop holes that may exist on your part, you can proceed to make a claim.

Just fill in the proper documents and attach the necessary papers. Ensure that all the papers are in the order and place them in a file. You need to be sure of the kind of statements you intend to make before the respective claim settlement officials in case you are called upon to do so.

This is necessary as any contradictory statement on your part could delay the settlement of claim. Once the formalities are done, there is usually some time gap involved before the claim amount is given to you as insurance company verifies and checks for the authenticity of the situation so arisen.

Bhrat Brij

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