In the past few weeks, weather on the East Coast has been borderline apocalyptic. The recent “bomb cyclone” and nor’easters have pummeled New Jersey. Power outages, heavy winds and freezing weather caused billions in damages across the East Coast.
There are steps you can take to protect your business after natural disasters. However, you should consider purchasing natural disaster insurance for your business, if you have not already. If you have natural disaster insurance, the following steps may help you while filing a claim.
- Call your insurance provider. Do not wait to contact your insurance provider after a natural disaster has caused damage to your business. Insurance companies have time limits on filing claims. If you wait too long, you may not be able to recover compensation.
- Document the damage. If it is safe to do so, you can return to your business to document the damage. Photographs of the damage can be helpful during the claims process. Make a list of any damaged or lost equipment and property.
- Gather your records and take inventory. Documentation can help you recover compensation for damaged property after a natural disaster. Take note of the value of any damaged equipment or property. Gather copies of any receipts, tax returns, statements of income, contracts and bank statements to send to your insurance provider.
- Keep records of repair expenses and damages. Be sure to keep records of any expenses you have incurred and continue to incur, such as those caused by repair costs or by conducting business from another location. These are just a few examples of costs you may experience after a natural disaster.
- Stay organized during the claim process. Take note of who you have spoken with and sent documentation to at your insurance company. Make digital copies of all documentation and store them somewhere safe.
Contact Our Monmouth Business Law Attorneys with Questions About Business Insurance
The steps listed above could make you better prepared for visits from a claim adjuster working on behalf of your insurance company. At any point during the claims process, you may benefit from contacting a business law attorney.
Our New Jersey business law lawyers could help you navigate the difficult insurance claims process. You can contact Garland & Mason, L.L.C by calling (732) 358-2028 or by using our online case review form.