How to claim on your business insurance

Follow these four steps and your business insurance claim should be finished before you know it. And it’s more likely to succeed too.

How to make business insurance claims: a step-by-step guide

1. Check your insurance policy

First, read through your business insurance policy to check you have cover for the incident you want to claim for. There’s no point claiming for something that’s excluded from your policy.

Check whether there are any cover limits and what excess you need to pay. If your excess is higher than the amount you want to claim, you’re out of luck. For example, if you want to claim for £200 but your excess is £250, your insurer won’t give you anything.

2. Gather your information and evidence

Before you contact your insurance provider to get the ball rolling, make sure you have all the relevant information to hand:

• Your policy number

• Your personal details

• Details of anyone else involved

• Details of the incident and the date it happened

• A crime reference number if the police have been involved

• Supporting evidence, such as photos, police reports and witness statements where applicable

• Proof of purchase if you’re claiming for stolen goods

3. Contact your insurance provider

When you’re ready, get hold of your insurance provider either online or by phone. You should aim to do this as soon as possible. All insurers have a claims department email or phone number. You can find the details on the company’s website or in your policy documents.  

Once you’ve made contact, you need to download a claims form or sit tight while your insurer sends you one.

4. Fill in the claims form

Once you have the form, it’s time to start filling in boxes. Make sure you include all the relevant details about the incident and any evidence you’ve gathered. Don’t rush it. Sure, it’s important to return the form as soon as possible, but dashing through it could only increase the risk of making a mistake. This can result in delays or worse, your claim could be rejected altogether. Once you’re finished, submit the form online or send it back to the insurer using the address provided. Oh, and if you’re sending evidence by post, make sure you keep copies.

How long does it take to process a business insurance claim?

Once your insurer receives your form, they can start processing the claim. The length of this process depends on the complexity of your case. Your claim could be processed within a few days or it could take a few months. 

What can I do if my business claim is rejected? 

Your business claim might be turned down because you don’t meet the policy conditions. For example:

• Your policy might not cover you for the type of claim you made

• The size of the claim might exceed the cover limit or excess on your policy

It could also be because you made a mistake on your claims form or you didn’t provide enough evidence.

If you believe your insurer has unfairly rejected your claim, you can make a formal written complaint. Keep copies of all written correspondence and the dates and times of any phone calls. Your insurer has eight weeks to respond. After this point, you can take your complaint to the Financial Ombudsman Service.