Property Claim Instructions Prepared for AASP-MN Members by CBIZ

With the recent storm damage, it’s a good time to remind everyone about what to do in the event your business suffers a loss from a major weather event.

1.  Protect property from further damage.

    •  Cover the property if it is exposed to the elements.

    •  Make temporary repairs, if reasonable and necessary, to protect the property from further damage.

    •  Maintain a record of all expenses incurred.

    •  Separate damaged from undamaged personal property.

2.  Take photos of damage (if possible).

3.  Prepare an inventory of damaged personal property.

     •  List quantity, description and value.

     •  Attach bills, receipts, estimates and related documents.

4.  Retain damaged property until a claims adjuster approves its disposal (unless a danger to safety exists).

      •  The adjuster may need to inspect the property.

      •  The insurance company may be able to salvage the damaged property.

5.  Notify the police in the case of theft.

6.  Expect to be contacted by the claims adjuster within two working days.

     •  If the damage significantly affects your continuing operations, request that the insurance carrier expedite your claim.

     •  Please let your insurance carrier know immediately if your circumstances change and the loss will have a greater impact on your business than originally anticipated.

7.  Be prepared to provide additional information as requested by the claims adjuster.

For more information, contact Brad Schmid at bschmid@cbiz.com or (763) 549-2247.

Want more? Check out the August 2024 issue of AASP-MN News!