Tips for making a business insurance claim

A version of this article was originally published in August 2023.

Claiming on your business insurance policy can be nerve-racking, but there are many things you can do to have a smoother experience. Lauren, one of our in-house claims experts, shares her top tips for making a business insurance claim.

What to do when making an insurance claim

First, report the claim as soon as possible

If you or your business is involved in an incident that may result in a claim, it’s important to notify your insurer as soon as possible.

This way, it can be reviewed and handled without delay.

In fact, most policies include specific timeframes for reporting claims — which are found in your policy wording — so time is of the essence. Failing to notify within the required timeframe could put your claim at risk of being declined.

Our guide on how to read your policy documents can help.

For certain types of incidents, such as a data breach or cyber event, it’s often a good idea to contact your insurer even if there’s only a suspicion that something may have happened.

Early notification allows insurers to give you guidance and support at the earliest stage, helping minimise any potential impact.

How to start a claim with Superscript

If you’re insured with Superscript, the quickest and easiest way to report a claim is through your customer portal.

Simply log in to your account, provide details of the incident and upload any supporting documentation. Once submitted, your claim will be reviewed by our in-house claims team, who’ll guide you through the next steps and provide support throughout the process.

We aim to make the claims process as clear, straightforward and stress-free as possible — after all, we know how important it is for you to focus on getting your business back on track.

Liability

If an incident occurs involving a third party, it’s important to avoid admitting fault or accepting liability at the scene or during any early discussions you may have.

Instead, focus on gathering the relevant information and reporting it to your insurer as soon as possible. Your insurer will review the circumstances and advise on the appropriate next steps.

Making statements about liability before the full details are known can sometimes affect how a claim is handled. By allowing your insurer to assess the situation first, you help ensure the claim is managed fairly and correctly.

If you’re unsure what to say or how to proceed, our claims team will be happy to guide you through the process.

Evidence

When you make a claim, your insurer will usually ask for some supporting evidence to help assess what has happened and confirm the details of the claim.

The type of information required will depend on what happened. This could include things like photographs of any damage, proof of ownership, police reports or copies of any communication with a third party involved.

For example, if a builder makes a claim under their tools insurance for stolen equipment, we may ask for proof of purchase. This could include receipts or a screenshot confirming the tools were bought online, before arranging a replacement or settlement.

We get it — when something goes wrong, you want it sorted quickly. Once you send us the information we need, our claims team will review your claim and guide you through the next steps. More complex claims may take longer to assess, but we’re committed to keeping the process as straightforward and stress-free as possible.

Providing any relevant evidence as soon as possible helps us review your claim more efficiently and reach a fair outcome without unnecessary delays.

Settling

If an incident leads to a potential claim, it may feel quicker or easier to resolve the situation yourself by offering a payment or arranging a settlement. However, it’s important not to make any payments or agree to settle a claim without first speaking to your insurer.

Before making any claims-related payment, you should wait until you have a written agreement from your insurer. Settling a claim yourself without their approval could affect how the claim is handled and may impact your cover.

Similarly, you should avoid instructing a solicitor without your insurer’s prior consent. In many cases, insurers have their own specialist legal panel who can represent you and manage the claim on your behalf if legal support is required.

If you’re unsure how to proceed, our claims team will be able to guide you through the next steps and ensure the situation is handled appropriately.

But it all starts with the right cover…

There’s a common misconception that insurers will try to avoid paying claims. At Superscript, our role as your broker is to support you throughout the claims process and work closely with insurers to help you get the best possible outcome.

While insurers are responsible for making the final decision on a claim, our claims team is here to guide you, advocate on your behalf and work with insurers to ensure your claim is handled fairly and efficiently.

The foundation of a positive claims experience starts with having the right cover in place for your business and taking the time to understand how your policy works.

It can be tempting to rush into buying a policy or be drawn in by a lower price, but this doesn’t always mean the cover will meet your needs. Taking a little time to understand what your policy includes and whether it’s right for your business can help avoid problems if you ever need to make a claim.

Here’s what to think about when buying a policy to help make sure any future claims experience goes as smoothly as possible.

Provide accurate information

Just like buying a new shirt, you want to make sure the cover you choose is the right fit for your business. If you’re unsure, make sure you ask your insurer before you sign up. You could also get help from a specialist like those in our Cover Plus team or a broker.

Be prepared to answer a series of questions that’ll help identify the protection your business needs.

Whether you buy your policy online, over the phone or through one of our expert tech brokers, it’s important to answer these questions as accurately as possible so we can help you secure the most appropriate cover.

Providing incorrect information, whether by guessing or entering inaccurate details, can mean your policy doesn’t properly protect your business if you need to make a claim. In some cases, you may not be able to make a successful claim if the cover you have doesn’t reflect the nature of the business or the risks involved.

Taking a few moments to ensure your information is accurate can help ensure your policy gives you the protection you expect when you need it most.

Pay attention to exclusions

Most insurance policies include certain situations where cover doesn’t apply. These are known as exclusions.

Exclusions vary depending on the type of policy you have and the risks being insured. For example, your public liability insurance policy might cover injuries to a customer at your premises, but exclude claims caused by deliberate or reckless behaviour.

While it can be tempting to skip over the small print, taking a little time to review and understand your policy exclusions can help ensure the cover you’ve chosen meets your needs and works as expected if you ever need to make a claim.

If you’re not sure what your policy covers or what it doesn’t, it’s always worth checking your policy wording or speaking to your broker for clarification.

Keep the right records

If you ever need to make a claim, you’ll likely be asked to provide supporting evidence. The exact documents you’ll need to send will depend on the type of cover you have and what happened.

Keeping important records such as receipts, proof of ownership, photographs, contracts or relevant communications can help support your claim and make the process smoother.

It’s also a good idea to review your policy wording so you understand what information may be needed if you make a claim. Keeping important documents to hand can help you provide the evidence we mentioned earlier.

Be prepared to pay the excess

Most insurance policies include an excess, which is what you need to pay before a claim you make can be paid out.

The excess amount is usually agreed when you buy your policy and can vary depending on the type of cover you have. In some cases, choosing a higher excess can reduce the cost of your premium. But if the excess is too high, sometimes making a claim won’t be worth it for the value of the claim.

If you need to make a claim, the excess will normally be deducted from the settlement amount or paid by you as part of the claims process.

It’s a good idea to check your policy documents for your excess amount. This will help you understand what your excess is and make sure you’re comfortable with the amount you may need to contribute if something goes wrong.

You might also be interested in:

• If a claim is successful, how much will be paid?
• What information is needed to make a claim?
• Common reasons business insurance companies might not pay a claim