Tips for Handling a Nonprofit Insurance Claim

It’s important to know how to file insurance claims so that your organization isn’t caught paying for damages it would otherwise be insured for.

Even in the best situations, nonprofit organizations face hurdles. Quite often these challenges come in the form of insurance claims. While you may have the best protection in place, you’ll still need to know how to file a claim, should the need arise.

Here’s how to file a claim for your nonprofit organization!

Report the claim immediately. If you wait too long to file a claim, you’re allowing additional damaged to be incurred on the property, which may not be related to the incident you’re reporting. The faster you report the incident, the faster your insurance paperwork will be fired and the insurer can begin and finish the investigation.

Leave the evidence alone. It may be tempting to pick up a hammer and begin repairs to your workspace so that you can get back into the swing of things. But before you take any steps to repair the damage, make sure to photograph the evidence of these damages so that you can use it as proof to back up your claim at a later date.

Assess the incident. Make a list of damaged inventory and equipment, estimated repair work, and the lost hours of work time that occurred as a result of the incident. If necessary, have an outside authority audit the damages to your property to be used as further support for your insurance claim.

Talk to your insurance company. Make sure that you’re aware of what is covered in your policy – and what isn’t! Stay in contact with your claims adjuster so that you can ask questions when the need arises and make informed decisions.

Remember that property damage can happy to any nonprofit organization. The best thing you can do to prepare your business is to have an insurance policy that covers potential future expenses. Contact the experts at Colorado Nonprofit Insurance Agency, part of HUB International in Denver, Colorado at 303-894-0298. We will work with you to ensure you are getting the most out of your coverage.