3 Steps To Lower Your Business Interruption Claim
There Are Steps You Can Take To Prevent This From Happening
Flooding at your business property means that your business will likely need to remain closed until all repairs and restoration are complete. For large water damage, this could be weeks or even months. Business interruption insurance can help by replacing the income your business would otherwise be producing and by covering some of your operating expenses, like taxes and payroll.
Water damage can be unpredictable, and sometimes repairs take longer than expected. Lost income and expenses add up quickly, and you can end up reaching your business interruption policy’s limits before you’re ready to reopen. Fortunately, there are steps you can take to prevent this from happening.
1. Don’t Delay
Time is the primary factor that determines the size of your business interruption claim, so it’s critical that your property be restored as quickly as possible. When a broken pipe or overflowing toilet causes flooding at your business, don’t waste valuable time on DIY cleanup attempts. Call your insurance company and a professional water remediation company as soon as possible, so work can begin right away.
2. Use a Full-Service Company
Contacting and coordinating schedules with a dozen independent contractors takes time and can lead to delays. For the fastest restoration, find a remediation company in Raleigh, NC, that can handle water removal, textile restoration, content cleaning, and mold prevention in-house. For even faster service, choose repair contractors in advance, so you don’t waste time shopping around after damage occurs.
3. Consider a Pack-Out
A “pack-out” or “move-out” is when all the contents of your business are packed up and moved off-site, where they can be cleaned and/or stored until repairs are complete. Repair work typically goes faster when workers don’t need to spend time protecting or working around business contents. Some restoration companies offer pack-out services as part of their cleanup package.
These steps can help get your business open again as soon as possible after flooding and help you keep your business interruption insurance premiums lower in the future.