When you submit a commercial insurance claim, taking charge from the start will help you secure your business's interests. Certified public adjusters will tell you how to take the lead in negotiations - and how to hold that lead until you have what you want.
3 Public Adjuster Tips
Any commercial property owner or manager can speed up commercial insurance claim negotiations - even under the stress of a property loss.
Tip #1: Listen well
When you call in a claim, the insurance company's claim adjuster will likely give away the company's claim position up front. The insurance company will take a position that is authoritative and expert. This attempts to put you in a position from which you have to negotiate up hill. as it were.
By listening well but making no commitment, you can secure the details of their first offer, one which you know they can improve. They will routinely reserve the right to pay you nothing if their investigation discovers no fault. If that's meant to intimidate you, you can ignore the "threat."
Tip #2: Prepare well
You can't negotiate well if you don't have a target. This is another reason not to negotiate on the first contact. You have to fully appreciate what the loss amounts to. After all, there are direct and indirect losses, short- and long-term costs to returning to normal.
When you have the details fully in hand, you are better able to visualize and flesh out the claim. Once you have a bottom line number, you can more confidently push your business's interests. You can speed up your negotiation if you and the insurance company have an understanding of your target. You can change it and even increase it, but the more confident you are, the better you are able to negotiate.
Tip #3: Present well
If there is a "trick" to speeding up the commercial claim settlement, it largely lies in your presentation as knowledgeable and confident. The more you are able to make and substantiate your claim without losing your cool, the more comprehensive and less disputable your claim will be.
And, your closing position is to assert that, given all that you have investigated as well as all information you have provided, settlement should be reached by your best date. You can assert that nothing is final until final costs are in, but bringing this claim to a respectful close will expedite your settlement and keep the window open to sustain the relationship.
What's your best plan?
You can manage your commercial insurance claim loss to your business's advantage. However, success takes experience, know-how, and preparation. It demands your time and attention. And, this takes you away from your core business obligations.
This opens the door for professional Public Adjusters, the certified claims negotiators who:
- Conduct a comprehensive review of the property and the damage.
- Detail and document everything needed to reduce the number of negotiation sessions.
- Negotiate from strength and experience.
- Audit process to avoid mistakes and prevent delays.
A Public Adjuster lets you avoid legal costs by providing state certified expertise and authority. The smartest commercial property owners/managers have Public Adjusters vetted early enough to be strategically ready for a loss claim. Being forewarned and forearmed in this way allows you to settle your commercial insurance claim in a shorter time frame and get back to business.