The Mayans predicted the supposed end of the world on December 21, 2012. During that time, people were clamoring for answers as to why the Mayan calendar ended at that exact time. Forwarding to the present time, there was no end of civilization everyone was alive and functioning, still coping with daily chores and work. However, even when there’s no assumption of the world’s end, everyone encounters accidents and natural disasters. To protect assets from these possible losses, people are investing time and effort on consequential loss insurance policies. You can browse through these report document samples to find the perfect template for your insurance business.
10+ Consequential Loss Templates in Google Docs | Word | Pages | PDF
1. Damage Report Template
When the force of nature strikes, there’s no stopping its rage. To cope up with the damages example and losses in business, entrepreneurs and individuals need to send reports to their respective insurance companies. The Damage Report Template has a professional and elegant format that’s editable in three different software. Make this convenient template yours by clicking the download button now!
2. Equipment Damage Report Template
Besides lost wages and revenue from pieces of defective equipment caused by natural calamities, businesses also experience limitations on the growth of their enterprise. Together with a consequential loss report, you can download this Equipment Damage Report Template to showcase the reason for your claims. Get this contract template sample for your business right away!
3. Damage Report for Insurance Template
Damages caused by the unfortunate mishaps stemming from accidents and natural disasters warranty business owners the chance to get claims from their insurance partners. Before they can accept their compensatory funds, they need to send Letters sample and report to back their claims. The Damage Report for Insurance Template has an excellent and high-quality content layout that insured clients will find useful. Grab your copy this instant!
5 Steps in Making a Consequential Loss
Step 1: Assess the Revenue Loss
There are two points to remember when making a consequential loss. First, these losses are the result of an outside force that prevents a company or person from continuing the work. For instance, a tornado destroys a factory and halts the manufacturing process of a good. The stoppage of the work results in a loss for the company. Second, the policy does not cover the physical damages obtained by the factory it’s another insurance policy. Moreover, when writing the consequential loss, you have to calculate the revenue loss that the business procures from the disaster.
Step 2: Add the Ongoing Interruption
When a calamity rampages a place, it leaves behind broken houses and properties. It may even take some time to repair the damage. So in the report, you have to include the interruptions such as power outages, flood, and large debris that block the production simple equipment. If the factory needs rebuilding, then that’s also a loss that the policy covers. Make sure to mention all the delays in the report.
Step 3: Include a Timeframe
If a fire broke out and tore the establishment down, then it requires rebuilding. The construction of a factory or mall does not happen right away; it takes long months or even years. Since it’s a loss for the company, the insurance company because of the consequential loss policy has coverage for the damage until regular operation resumes. When creating the report, include a timeframe of the duration of the rebuilding or the assumed date of reopening.
Step 4: Make a Report
After gathering all the information about the disaster or mishap, you have to compile everything in a report. The format of your report depends on the information you would like to present first to the insurance company. Rearrange the sections according to your preference.
Step 5: Send the Report
The last process to undertake for the consequential loss report is to send the document to the insurance company. When satisfied with the flow of information, send the material to the agency. Ask for an update a few days sending the document samples. You need swift action to the current situation, as it involves the welfare of company members.
4. Restaurant Damage Report Template
Depending on the insurance contract you have with your insurance company, you can get claims when your company encounters affliction. For instance, when your restaurant is one of the establishments stricken by disasters, you can get your consequential loss claims from your appointed insurance agency. The Restaurant Damage Report Template has an organized and easy-to-navigate format to help entrepreneurs. Editable in Apple Pages, this template should be in your files now; download your copy now!
5. Simple Damage Report Template
For those searching for a professional report template to use for their work, this sample might be what you need. The Simple Damage Report Template contains a compact and well-detailed format for the convenience of businesses that need to report losses and deficits. You can also download a balance sheet together with this template; get it now!
6. Generic Accident Report Template
In cases of setbacks in work caused by outside forces, businesses with consequential loss policies can send letters and reports to their insurance associates. The Generic Accident Report Template features an organized and easy-to-understand content for the benefit of the readers. Don’t wait for tomorrow and download this incident report sample right away!
7. Free Property Damage Report Template
After the wreckage brought by storms, mudslides, typhoons, business needs to assess the damages on the property. Enterprises have to send reports to their insurance company. You can utilize this Free Property Damage Report Template to organize the contents of your reports example. Don’t skip the opportunity and download this right now!
8. Free Claim Letter for Damaged Goods
Other than the consequential loss report sample you will send to your insurance associates; you also have to address the damaged goods within your work area. The Free Claim Letter for Damaged Goods has a simple structure complete with readable fonts. You can include this letter to your report to make sure that the insurance company is aware of your current condition. Download this now!
9. Free Vehicle Damage Report Template
Every disaster comes with casualties not only the loss of lives but also the destruction of properties. When your delivery service business is affected by the calamities, you have to report this to your insurance partner. The Free Vehicle Damage Report Template is a one-page document that discusses the state of the automobile you use for work. Include this document in your report file and download it today!
10. Consequential Loss Policy Sample
The tricky part about starting a consequential loss policy template is contents. You also have to mention disclaimers about the coverage and causes for termination, if applicable. To make things easier, you can make use of this policy guide. The Consequential Loss Policy Sample has a systematic layout complete with intricate parts. Make this yours and download it now!
11. Fire Consequential Loss Insurance Policy
Specifically for fire accidents, the Fire Consequential Loss Insurance Policy has a well-detailed instructional format (with examples) that help insurance companies with the content of their contracts. You can revise the sections according to the policies and methods of your company. An excellent tool for startup businesses, this template should be in your folders now!