How to get truck insurance claims: Unfortunately, no one in the trucking industry wants to consider experiencing an accident or loss. Whether you are an independent operator, small fleet owner, or large commercial transportation company, accidents are an inevitable part of the business and it is important to be prepared.
While a loss can be incredibly stressful, filing your claim doesn’t have to be. Here are some tips for how to get truck insurance claims to avoid major headaches and ensure you are adequately compensated.
Delay to Get Truck Insurance Claim?
Don’t file a proper claim with your insurance company after an incident or loss could be one of the biggest mistakes. The most common reason that policyholders delay is that they fear an increase in their premiums.
In many cases though, this strategy backfires. The policyholder will try to handle the accident or loss themselves, only to report it later after issues arise that cause increased expenses.
Delays in reporting could potentially compromise your coverage and lead to a much bigger pay-out on your end. Even if you think the incident is too trivial to handle through your insurer, you should still file a claim.
- How To Scare Insurance Adjuster – Insurance Claims
- What Is Twisting Insurance? Type of Replacement Insurance
- Car Accident Without Insurance And Not At-Fault: Can I Sue?
Benefits To Get Truck Insurance Claims
The more quickly you can file your commercial trucking claim, it could be better. Prompt reporting allows the loss prevention team at your insurance company to immediately begin their investigation and help mitigate your loss.
Major benefits of timely reporting include:
- Increases the likelihood of an early resolution or settlement
- Often lowers claim costs.
- Decreases potential for litigation.
- Prevents important evidence from getting lost.
- Compliance with policy provisions that require immediate notice.
Procedure to Get Truck Insurance Claims
There are a few steps in the reporting process. Here is what you typically need to do and what will happen when you file with your insurance company.
Gather Information on How to Get Truck Insurance Claims
Before your file your claim, make sure to collect a few important details such as the date, location, and cause of the loss; type of damage; steps taken to mitigate loss; the name of any individuals who may have witnessed the events leading to the loss, and your contact name and policy number.
Report The Claim
Depending on your insurer, you can file your claim by phone, email, and/or an online form. You will fill out the report with all the information you have gathered.
The first notice of loss report will be immediately processed. You will soon be contacted by your claims representative so that you can go over the report together and he or she can find out any other relevant details.
Depending on the type of case, what happens next will differ. For a minor incident, there may be no further actions; however, the above steps will also assist your insurer in handling a significant loss.
Key Factor of How to Get Truck Insurance Claims
While independent truck drivers only have to worry about their insurance, mid to large-sized commercial trucking companies must manage dozens to hundreds of drivers.
When employees don’t report losses, your company may be losing on unrecovered claims, even worse, be hit with an unexpected lawsuit.
Education is critical to ensure all employees comply with your company’s claim reporting process. You should train employees to report all accidents or potential claims to their manager as soon as possible.
Training should be conducted during each new hire orientation, with frequent refreshers during company safety meetings.
When looking for an insurance company, make sure to evaluate if they have any loss prevention programs. An insurer can not only mitigate losses when they happen but also help prevent them through effective risk management measures.
Also, periodically check with your broker or insurance company representative to confirm all current addresses, phone numbers, and email addresses to properly tender a claim under the policy.
With the right insurance partner, you can better ensure the safety and compliance of your trucking business.
- How to Start a Best Box Truck Business Ideas
- How to Make Money with a Box Truck
- Starting Up a Business In Europe: Where Are 9 Useful Tips