Business Insurance Claims Scotland

First, ensure the safety of your staff and secure the premises to prevent further damage or loss. Then, document the damage by taking photos, videos, and making detailed notes. Contact your insurance company or an independent loss assessor like Oakleafe Claims Scotland to begin the claims process. It's important to notify your insurer as soon as possible to avoid any delays in processing your claim as there will likley be a business interruptions element.

Depending on your coverage, you can file businenss insurance claims in Scotland for a variety of issues including;

• property damage (e.g., fire, flood, storm damage),
• theft,
• business interruption (loss of income due to downtime),
• equipment breakdown,
• cyber crime,
• and liability claims (e.g., if a customer or employee is injured on your premises).

Review your policy to understand which events are covered.

Typically, you will need to provide:

• Photographs or videos of the damage.
• Receipts, invoices, or estimates for repairs or replacement.
• Financial records if the claim involves business interruption.
• Police reports if the claim involves theft or criminal damage.
• Any relevant contracts or agreements (e.g., for leased equipment or property).

Your insurer or loss assessor can provide specific guidance on what is needed for your claim.

In many cases, filing a claim can lead to an increase in premiums, particularly if the claim is large or if multiple claims are filed in a short period.

However, this will depend on the insurer’s policy and the nature of the claim.

It can be a good idea to discuss potential premium increases with your insurer before proceeding.

Yes, you can often continue operating your business if it's safe to do so.

If the damage makes it impossible to continue operations at your current location, you may be able to claim for temporary premises or equipment rentals under business interruption coverage.

It’s important to work with your insurer or loss assessor to understand what is covered.

While it’s not mandatory, hiring a loss assessor like Oakleafe Claims Scotland can significantly benefit business owners, especially for larger or more complex claims.

Loss assessors represent your interests, handle the claims process on your behalf, and negotiate with the insurer to ensure you receive a fair settlement.

We can also help minimise disruption to your business.

If you feel the settlement offer is insufficient, you have the right to dispute it.

You can negotiate directly with the insurer or hire a loss assessor to help present your case.

If a resolution cannot be reached, some insurers offer an internal dispute resolution process, and as a last resort, you can take the case to the Financial Ombudsman Service in Scotland.

Business interruption insurance covers loss of income and operating expenses when your business is unable to operate due to a covered event, such as a fire or flood.

It compensates for lost revenue, fixed costs like rent and payroll, and can also cover the costs of relocating to a temporary location.

Documentation, such as financial records and sales forecasts, will be required to calculate the loss.

To minimise the chances of rejection:

• Ensure you file your claim within the required time frame.
• Provide accurate and complete documentation.
• Comply with any policy conditions, such as maintaining security systems or conducting regular property maintenance.
• Avoid making permanent repairs before the insurer or adjuster has inspected the damage.
• If in doubt, consult a loss assessor to ensure your claim is handled correctly from the start.