Three business insurance claims tips

Making a claim on your insurance is not something anyone wants to do — but that’s what it’s there for; the mishaps, slips, trips or break-ins. By being prepared and gathering the right evidence upfront, you can help speed up the claims process and increase your chances of a successful outcome.

But, like anything steeped in so much history, insurance industry jargon is often not the most simple to understand. So, before making an insurance claim, it might help to have a little insider knowledge.

We believe that insurance doesn't need to be complex, so take a look at our top three tips below.

1. What will I need for every claim?

While every scenario is different, there are some standard things you’ll need to share with your insurer for every claim you make.

We’ll always ask for:

• Your name
• Your company name
• Your policy number
• Whether you’re VAT registered

For claims involving theft, loss and accidental damage, you’ll always be asked to provide the make and model of the item, as well as proof of purchase.

Receipts help determine personal items from business ones and confirm what you paid. If it’s a specialist item — whether yours or that of a third party — we’ll usually ask that you send a web link to a like-for-like replacement.

If you’re facing any sort of legal action for injury claims or unfair dismissal, you’ll be asked to provide your solicitor's contact details and confirm if proceedings have been issued. You’ll also have to send over copies of all the correspondence exchanged to date with the plaintiff and your solicitor.

It’s important to note that in the early stages of any sort of legal claim, not to enter into conversations around liability.

Tip: Keep your business receipts! Get into the habit of taking photographs of every receipt when you purchase a key piece of kit and filing it away for safekeeping. You never know when you might need it.

2. What are insurer panels?

Panels help the insurer manage costs and ensure that claims are handled by trusted, vetted professionals. On the downside, it may limit your choice of service providers.

Each insurer will likely have a panel requirement — this means that they will have specific, pre-approved service providers or professionals (known as the "panel") that policyholders need to use when making a claim.

These providers could include repair companies, legal firms or medical practitioners, depending on the type of insurance.

Say, for example, your shop window has been vandalised or a specialist piece of business-critical equipment has been damaged. Depending on your insurance, when you make a claim, you may have to use the insurer-approved panel to get the damage fixed.

Tip: Check your policy documents to see if your insurer has a panel requirement.

3. What's the difference between a claims-made and claims-occurring policy?

Understanding the difference between claims-made and claims-occurring policies isn’t just a detail — it can be crucial for protecting your business when it matters most. Here’s why:

Let’s say you’re a consultant or a business owner offering advice or services. A mistake made today could come back to haunt you years from now. The type of policy you choose determines whether you’re covered when that claim arises — or left to deal with it on your own.

A claims-made policy only has your back while it’s active. If someone files a claim after your policy ends, even if the issue happened when you were insured, you’re not covered. This type works best if you plan to keep renewing cover or need flexibility in managing costs.

A claims-occurring policy, on the other hand, provides long-term peace of mind. It covers claims linked to incidents that happened while the policy was active, even if they pop up years after you’ve moved on or stopped renewing.

The choice comes down to your profession, your business’s risk profile, and how much certainty you want. Getting it right means knowing you’re covered for the what-ifs—whether they hit tomorrow or five years down the line.

Tip: When you’re buying a directors' and officers' or professional indemnity policy, consider whether you need to be covered forever or just for the duration of the policy. Your decision will largely be based on the type of job you do and the risks you feel comfortable with.

You may also like:

• Tips for making a business insurance claim
• Common reasons business insurance companies might not pay a claim
• What information is needed to make a claim?