Making a Claim for Business Insurance
RACV Business Insurance: Steps to Take in an Emergency and Claim Process
In the event of an emergency at your business, such as a fire, burglary, or natural disaster, prioritize safety first. If necessary, call Triple Zero (000) for emergency help, or 132 500 for help during a flood or storm.
Once the situation is under control, it's important to take prompt action to minimise further damage and start the insurance claim process. Here's a step-by-step guide on what you should do:
- Submit your claim as soon as possible. To initiate the claim process, call RACV Business Insurance on 13 19 03.
- Secure your premises, if safe to do so. Turn off affected utilities like water, gas, or electricity to prevent further damage.
- Document the damage. Take photos of the original items and document the extent of the damage for your insurance claim. This evidence will help support your claim.
- Prepare proof of ownership. Gather account and business books, computer records, vouchers, invoices, balance sheets, and other evidence to prove ownership of the items claimed for. In some cases, a statutory declaration may also be required.
- The claims team will assess your claim. They may request additional information, such as a damage report, or a police or fire brigade report, to progress the claim.
- The claims team will work with you to repair or replace what you have lost. If your claim is approved, they will organise replacements through a network of suppliers, or you may be given a store credit. If your building claim is settled with a repair or rebuild, the claims team will allocate a builder who will contact you to review and approve the work before arranging a time to start repairs.
- You may need to pay an excess on your claim before it is finalised. This amount will be outlined in your RACV Business Insurance Policy.
RACV Business Insurance offers flexible cover for business owners. Suitable insurance policies for covering a small business typically include general liability insurance, property insurance, workers' compensation, professional liability, and business owner's policy (BOP), which combines general liability and property coverage. Other important types can be auto insurance, business income (interruption) insurance, product liability, cyber liability, and umbrella liability insurance, depending on the specific risks and operations of the business.
It's essential to review your RACV Business Insurance Policy and Product Disclosure Statement (PDS) and Certificate of Insurance to ensure you have the right coverage for your business. Many insurers offer customizable packages and discounts for bundling multiple policies.
In an emergency or after an incident, remember to prioritise safety and act promptly to minimise damage and start the insurance claim process. RACV Business Insurance is here to help you through this challenging time.
After an emergency, start the insurance claim process by calling RACV Business Insurance on 13 19 03 to initiate the claim for your affected business. In order to support your claim, it is essential to document the damage, gather proof of ownership, and prepare for potential additional information requests from the claims team.
