A comprehensive guide to making a business insurance claim
- Filing a business insurance claim can be daunting, particularly if it’s your first time.
- Lodging your claim promptly and providing clear details about what happened, why, and the impact, can help us support you through the process.
- Photos and videos of the event are invaluable for understanding the scope of the claim, especially when third parties are involved.
Even the best-prepared businesses can face unexpected disruptions. When things go wrong, your insurance policy is there to help you get back on track as quickly as possible.
However, navigating the claims process can feel overwhelming, especially if it’s your first time. What steps do you need to take? Who do you contact? What information should you prepare? Here’s what you need to know.
What you can expect when making a business insurance claim
1. Register your claim
Contact your broker, or QBE via phone or online if you’ve taken out your policy direct, to formally lodge your claim.
2. Detail the event
Provide information on what has happened, how it happened, and the consequences of the event. Include relevant documentation and photos or videos if available.
3. Emergency repairs
For property claims, we’ll arrange temporary emergency repairs to be undertaken if the property is deemed to be unsafe.
4. Assessment period
Service providers, loss adjusters, or expert assessors may be appointed to assess the situation and help facilitate resolution of the claim.
5. Claim decision
You or your broker will be kept informed of the progress of the claim to ensure you understand how we are resolving the claim and the anticipated timeframes.
You can contact your broker or your QBE Claims Officer at any time throughout the process. We’re here to help.
How do I lodge a business insurance claim?
First things first, if an insurable event happens, you need to let us know as soon as possible. You can do this in one of three ways:
- Contact your broker. If you work with an insurance broker, they’re your first port of call. They’ll be able to register the claim on your behalf and liaise with our team here at QBE to get the assistance you need.
- If you can’t get hold of your broker, or you’ve taken your business insurance policy out directly with QBE, call us on 133 723. Our team is here to help 24 hours a day, seven days a week.
- If you’ve taken out your business policy direct with QBE you can register your claim on our website. If you require urgent assistance, we recommend you call either your broker or QBE directly.
What information do I need to share when making a business insurance claim?
Whether you’re in contact with your broker or speaking with QBE directly, it’s important to share as much information about your claim as possible. This can be summarised in three steps:
- What has happened
- How it happened
- The consequences of the event
“It’s important we receive as much information as possible so we can understand the best way to respond and support you through the claims process,” said Brenton Crabb, General Manager of Casualty, Specialty and Claims Partnerships, QBE Australia Pacific.
“By understanding the full details of the situation, we can ensure the right action is taken, at the right time, and get you the support you need as quickly possible.”
The type of information and documentation will differ claim to claim. For example, if making a Business Interruption claim, you should be prepared to provide financial records so we can assess any losses accurately. The Insurance Council of Australia (ICA) has published a guide to help you prepare the documentation you might need for a Business Interruption claim in advance.
Photos and videos can be particularly useful in helping us understand the scope of the claim.
“They say a picture is worth a thousand words. If we can see the damage and the impact an event has had, it can help us better understand your situation – particularly if a third party is involved,” said Crabb.
What happens after my business insurance claim is lodged?
From here, we’ll review your claim and identify what actions need to be taken. Each claim is different, so this could be anything from appointing tradespeople to make sure a property is safe, or loss adjusters are engaged to better understand the claim and what’s required to get you back on track. If a service provider is appointed, they’ll be in touch to arrange the next steps.
In some situations, we may need to get expert reports and/or visit the site to assess the damage. For example, this could be an Engineer assessing structural damage, or a Hydrologist assessing water damage to a property.
“Ultimately, export reports are used to help us better understand the situation, and if there are recoveries against third parties,” said Crabb.
What is the process for finalising a business insurance claim?
Once any required assessments or works have been carried out, we’ll contact you or your broker to inform you of the claim decision. This can involve reviewing any costs associated with repairs or replacements completed by service providers, and/or agreeing on a final settlement amount.
“We’ll always confirm the outcome of your claim with you and provide clear instructions for any next steps, such as any additional information we may require. You’ll be able to contact your QBE Claims Officer at any time throughout the process if you have questions or require further assistance,” said Crabb.
Getting you on the road to recovery
When you make a business insurance claim, it’s our aim to get you back to the position you were in before the event happened, as quickly as possible. To learn more about QBE’s comprehensive Business Insurance offerings, visit our website.
