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Elements involved in the insurance claim process for business owners

The process of a commercial insurance claim depends on many factors, not least, which industry the business is in and how much damage it has sustained. In order to advise business owners about the likely process they face, we recommend a free, no obligation consultation with one of our experienced commercial Loss Assessors. A commercial insurance claim is likely to involve the following elements, each of which is the responsibility of the business owner or their Loss Assessor should they choose to appoint one.

 

Building Claim
This will be handled by your Landlord if you are not responsible for insuring the building
  • Arrange emergency works e.g. electrical safety, temporary roofing
  • Instruct your Surveyor to prepare
    the specification for rebuilding
  • Obtain tenders and evaluate costs
  • Arrange building works
  • Discuss incorporating improvements and alterations
  • Prepare and submit detailed quantified claim
Agree Settlement
Stock, Machinery
and Contents Claim
  • Manage cleaning, restoration or replacement of your stock, machinery and contents
  • Prepare a detailed inventory of stock, machinery, contents and obtain costs of replacement
  • Prepare and submit detailed quantified claim
Agree Settlement
Claim
Business interruption
  • Analyse historical and projected sales data and formulate a claim for loss of profit ensuring that positive factors, such as growth trends and seasonality are taken into account
  • Secure periodic and regular interim funding to generate
    and maintain turnover and support continuity of business
  • Assist in locating and setting up temporary trading premises
  • Continually monitor performance of business to identify any shortfall during indemnity period
  • Prepare and submit detailed quantified claim
Agree Settlement

For a more in depth explanation of the insurance claim process, please read one of our thorough insurance claim guides.

Building Claim
This will be handled by your Landlord if you are not responsible for insuring the building
+
Arrange emergency works eg. electrical safety, temporary roofing
Instruct your Surveyor to prepare the specification for rebuilding
Obtain tenders and evaluate costs
Arrange building works
Discuss incorporating improvements and alterations
Prepare and submit detailed quantified claim
Agree Settlement
Stock, Machinery and Contents Claim+
Manage cleaning, restoration or replacement of your stock, machinery and contents
Prepare a detailed inventory of stock, machinery, contents and obtain costs of replacement
Prepare and submit detailed quantified claim
Agree Settlement
Business Interruption
Claim
+
Analyse historical and projected sales data and formulate a claim for loss of profit ensuring that positive factors, such as growth trends and seasonality are taken into account
Secure periodic and regular interim funding to generate and maintain turnover and support continuity of business
Assist in locating and setting up temporary trading premises
Continually monitor performance of business to identify any shortfall during indemnity period
Prepare and submit detailed quantified claim
Agree Settlement

For a more in depth explanation of the insurance claim process, please read one of our thorough insurance claim guides.

Can we help you with your claim?

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Why choose us

A single point

of contact

As our client, you will never have to go through a call centre. You will have the direct contact details of your Morgan Clark Loss Assessor and their assistant.

Resolving your claim as

quickly as possible

With a coordinated team led by your Morgan Clark Loss Assessor, your claim will run smoothly and efficiently and you will receive the settlement you are owed.

Being equally

represented

Without Morgan Clark on your side, you will be negotiating with the Loss Adjuster alone. Would you consider going to court without a solicitor
on your side?

Unrivalled industry

experience

Having dealt with insurance companies and Loss Adjusters since 1999, Morgan Clark’s team have established an industry-wide reputation as the UK’s leading
Loss Assessors.

Keeping you

in control

You choose the way your claim is managed – some people like to manage each step with their Loss Assessor, others prefer to let their Assessor take the reins completely – the choice is yours.

Significant reduction

in stress

It is easy to underestimate the time and energy that goes into running a claim. Having an expert guide you through the process will reduce this stress and allow you to focus on
your day to day life.

Video testimonials

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Customer reviews

Despite all the assurances from both my broker and insurer that they had made me the best possible offer, you were still able to secure a settlement that was more than double the figures they had originally proposed. I had no idea bringing you on board would make such a big difference to the settlement.

I won’t hesitate to call you. Thanks again for the great service.

Lord Alan Sugar

See more customer reviews

Popular Questions

How much will this cost?-

In the majority of cases we are able to represent our clients without charging a fee at all. Read how we are able to offer our services free of charge by clicking here.

Doesn’t my insurance company manage my claim?+

While many insurance companies will support you in the initial weeks of your claim, their only responsibility is to ensure costs are covered to restore your property and replace damaged contents, stock, machinery etc. (if applicable). As your claim progresses, you will be left with the most stressful and time consuming day-to-day elements to organise and oversee alone if you do not appoint a Loss Assessor.

What’s the difference between a Loss Assessor and a Loss Adjuster?+

Loss Assessors and Loss Adjusters are both insurance claim professionals, but there is one key difference in their role during the insurance claim process; a Loss Assessor is appointed by and works exclusively for the policyholder, while a Loss Adjuster is appointed and paid by the insurance company. Loss Adjusters are expected to remain independent. Read more about the difference between Loss Assessors and Loss Adjusters here.

What will my insurance company think if I appoint a Loss Assessor?+

There is no reason why your insurance company or Loss Adjuster should discourage you from appointing your own Loss Assessor. If your Loss Adjuster is trying to dissuade you from using our services, you should question why they are against the idea of you being equally represented. After all, a Loss Assessor can only help a policyholder claim for what is legally within their insurance contract. Click here to read more about Loss Adjusters.

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