Business insurance claims

Who is eligible to make a business insurance claim?

You may be able to lodge a business insurance claim to receive financial assistance if your business has suffered loss, damage or theft. Before you lodge a business insurance claim, it’s important to review the terms of your policy to make sure that the details of your claim are indeed covered. Fine print in the terms and conditions vary between insurers and policies, so it’s important to thoroughly read through your specific policy before making a claim.

What can I claim business insurance for?

You might be able to claim compensation for:

• property damage or loss
• liability risks involving the public or your employees
• business interruption (if your business has had to close or relocate)
• bodily injury
• disability (workers’ compensation)
• stock loss or damage
• accounting expenses
• consequential losses such as loss of profits

What is the process for a business insurance claim?

The first step of a business insurance claim is notifying your insurer of your loss. After you lodge a claim and fill out all the required documents, your insurer will review your claim and determine if your loss qualifies for compensation. If it does, they will provide you with a set amount of funds. If they deny your claim, don’t lose hope. We might still be able to make them compensate you.

Time limits for making a claim

What the time limit is will depend on your insurance policy terms and conditions. Starting the process as soon as possible is always best, proving your claim is much easier when the loss or damage has happened recently. However, you might be able to claim even after a long time. We can advise you on whether you still have a valid claim.

How we can help you

Our experienced lawyers are here to guide you through each step of the process by:

• advising you on whether you have a valid claim
• finding and explaining the losses your policy covers, benefits it provides, and any exclusions that apply
• ensuring you follow your insurer’s strict claim requirements and meet any time limits
• claiming penalty interest from the insurer if it caused any unreasonable delay.