Navigating the Insurance Claims Process

Here's the rewrite:

Navigating the Insurance Claims Process

REALLY HONEST · 28 August 2021 · 7 min read

You took out insurance for a reason. Maybe investors required it, a contract demanded it, or you just wanted the peace of mind that if something went wrong, you wouldn't be carrying the cost alone. Whatever the reason, when a claim actually happens, the last thing you need is to be scrambling around wondering what to do next.

That's where most brokers leave you. We don't.

We've put together a practical guide to making insurance claims across the most common policy types. Not jargon, not small print. Just a clear breakdown of what your insurer will ask for, and what you can do to get things moving as quickly as possible.

Property & Equipment

Whether it's a leak in the office or a laptop left on the tube, here's what you'll typically need to hand:

• Date of incident
• Address where the incident occurred
• Circumstances of the loss
• Evidence of the loss: photos, videos, damage reports, police reports
• Evidence of ownership if the item was lost or stolen
• Repair and replacement costs
• Details of any other involved parties, such as leasing companies
• Your VAT status

A few tips. Take photos of damage immediately, even before anything is moved or cleaned up. Keep receipts or proof of ownership for valuable items. If something is lost or stolen, report it to the police and get a crime reference number. Both will save you time later.

Business Interruption

An incident at your premises, or even somewhere in your supply chain, can leave a gap in your revenue that's genuinely damaging. Business interruption cover exists to bridge that gap, but you need to give your insurer the right information quickly to get cash moving.

• Date of incident
• Cause of loss (often linked to a property claim)
• Evidence of financial loss: current and prior year accounts
• Gross rate of profit

The sooner you notify us, the sooner we can help you build the picture your insurer needs.

Liability Claims

Allegations of damage or injury, whether from a member of the public or one of your own team, can feel daunting. The key is to resist the instinct to handle it yourself. Here's what your insurer will want:

• Name and contact details of the person making the claim
• Description of the incident
• Whether the claimant has appointed a solicitor
• Supporting documentation: photos, invoices, contracts, correspondence, accident records, internal incident reports
• RIDDOR report if applicable (submittable at www.riddor.gov.uk)
• Witness statements
• Relevant risk assessments and maintenance records
• Employee training records and PPE details
• Wage details for the thirteen weeks prior to the incident (for employers' liability claims)

Three things not to do. Don't admit liability. Don't enter into negotiations or make any settlement offers without speaking to us first. And don't respond to any letters connected to the incident before sending them to us. Legal proceedings in particular have tight deadlines, so contact us immediately if anything lands.

Motor Claims

From a minor bump to a multi-vehicle collision, here's what to capture at the scene:

• Date of accident
• Your vehicle registration
• Full driver details
• Third party details and vehicle registration
• Witness contact details
• Photos of damage to your vehicle, any other vehicles involved, and the scene

If your vehicle has been stolen, report it to the police within 24 hours and pass us the crime reference number. If you're contacted directly by a third party representative, let us know straight away and send any correspondence to us unanswered.

If your vehicle is a total loss, search for equivalent vehicles being sold online at the same specification and mileage. It gives you a reference point and helps ensure you receive a fair settlement offer.

A dashcam is worth considering if you don't already have one. The footage has settled countless disputes over fault, quickly and conclusively.

Freight Claims

If goods are damaged or lost in transit, here's what to pull together:

• Date of incident
• Details of how the loss occurred
• Location of the goods at the time
• Evidence of costs and business impact
• Details of other parties involved
• Transit documents
• Photos of the damage
• Commercial invoice including the weight of the consignment
• Any correspondence received from other parties

Notify us promptly. Early notification gives your insurer the best chance to investigate properly and keeps costs under control.

Travel

Cancellations and curtailments happen. When they do, you'll need:

• Completed claims form
• Copies of travel documents: tickets, invoices, boarding passes
• Receipts for any costs incurred
• Crime reference number if belongings were lost or stolen
• Purchase invoices for any items lost or stolen
• Airline report in the event of lost luggage

Financial Claims

This category covers a range of policy types: Directors and Officers cover, Professional Indemnity, Legal Expenses, Management Liability, and Employment Practices Liability. These policies operate on a claims-made basis, meaning your current policy responds regardless of when the alleged incident occurred.

Examples of things you must notify us about:

• HSE or HMRC investigations
• Grievances raised by employees
• Allegations of professional negligence

What your insurer will need:

• Claimant's details
• Date you first became aware of the circumstance
• Background information and a brief chronology of events
• Your comments on liability
• Estimated claim value

Important. Some policies require notification within just a few days of you becoming aware of a claim or circumstance. Do not take any legal action or incur legal fees before speaking to us. Both could affect your cover.

That's the honest version. Insurance exists to put you back where you were before things went wrong. Our job is to make sure it actually does that.

If you need to make a claim with REALLY HONEST, complete our claims form here.