Coverage is contingent on working with the insurer.
In the ISO commercial property form, for instance, you are required to cooperate with the insurer in the claim’s investigation or settlement. In a similar vein, the ISO liability form mandates that you work with the insurer to investigate, settle, or defend a claim.
Your actions may give the insurer grounds to deny coverage if you fail to provide the information it needs to process your claim.
Even if the insurer does not deny the claim, your failure to cooperate may delay the payment of your claim.
You may make mistakes when filing insurance claims, just like many small business owners do.
These errors are simple to make, but they can have serious repercussions. The reasons why you should avoid these ten common mistakes made by business owners are listed below.
