Ways to Lower Your Business Interruption Insurance Loss

4/16/2019 (Permalink)

SERVPRO of SW Orlando can restore any residential or commercial building back to normal as quickly as possible.

Can you imagine starting a business and not purchasing property insurance, fire insurance or other hazard coverage? It would be unwise to even consider go without these benefits. In the event of a disaster such as flooding, these plans could save you and your Orlando, FL, company from financial ruin. A severe emergency could make your building unusable and thus temporarily cease operations. Business interruption insurance is critical in these cases. There are ways to make sure your financial losses are minimal.

What It Covers

If you have to close your doors to your office due to large water damage, you could start to lose money and watch as customer jump ship and head over to your competitors. Business interruption insurance can help in the following ways:

• Compensates you for lost income if you have to leave the building and not conduct business
  
• Covers operating expenses such as electricity
  
• Covers the revenue you would have brought it had the disaster not occurred.
  
  

What Do You Do Next

If the flooding is extensive and shuts you down longer than you expected, your costs may exceed coverage limits. To avoid heavy losses, you may think things are out of your control. This will largely depend on how long it takes to clean up after the incident and make your building safe for work again. A quick recovery will help keep these losses down.

Hire the Right Help

This is where it’s critical to bring aboard an experienced, skilled flood restoration company. Whether it’s a broken pipe, sewer backup or other reason the water damage occurred, a competent team of professionals will move the recovery process forward more quickly. The crew will use the most advanced equipment and techniques to remove all water and then dry and sanitize the affected area.

If major flooding shuts down your business, make sure you hire the right cleanup team to get you back to work. This will help ensure the costs don’t exceed coverage limits.