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When you or your business is in the middle of a situation or accident that warrants filing an insurance claim, it’s often the last thing you think about in the heat of the moment. Remember that each day that a claim goes unreported, the average cost of the claim goes up! Filing your insurance claims sooner rather than later is beneficial to both you, your business, and the insurance company.

Average total costs of a claim increases 3% for every day of lag time; average cost increases 20% when reported after 7 days and 41% after 15 days.

According to a report by Telcom Insurance Group, the “average total costs of a claim increases 3% for every day of lag time; average cost increases 20% when reported after 7 days and 41% after 15 days.” The sooner a claim is reported, the sooner it can be investigated. Rather than waiting until something goes wrong, here are some reasons to consider reporting any and all claims as soon as they occur.


Even if an accident is considered “no-fault,” it should be promptly reported to the insurance company. Even without ALL the facts, filing a claim within the first two days following an accident is important. If someone claims injury or damage at a future date, these original details from the time of the incident can save valuable time and court costs.

While you may think that documenting even the tiniest claims will raise your insurance rates, rest assured that this is not the case! Making a “report-only” claim is not included in your annual (or biannual) underwriting review. Claims like these are weighted differently when it comes time to renew your policies.


In the event of a Workers Compensation claim not being reported in a timely manner, your business could also receive penalties from the state for late reporting of claims. This also includes late payment penalties for medical bills and lost wages. Check with your state to make sure you report any Workers Compensation claims within the required timeframe. Reporting at the time of injury also helps to ensure that your employees receive proper medical care as quickly as possible.


Early reporting is just one way to protect your business from any exaggerated claims after an accident. Many times after a workplace or auto accident, claimants may seek advice from friends or attorneys who may change their opinions of the event. Capturing the details from the very beginning is crucial in the event of any future investigation or litigation needs. Report claims immediately if you suspect any fraudulent claims.

Let Simplesure help you efficiently handle your claims. We’re ready to help you solve your insurance puzzles anytime.