How To Lower Your Business Interruption Insurance Claim

8/27/2022 (Permalink)

You can lower your business interruption insurance claim and get back on track.

How To Reduce Your Insurance Claim for Business Interruption

If your building in Beaumont, TX, experiences a water-related incident such as flooding from a broken pipe, you may be forced to halt business operations until repair and restoration efforts are completed.
Business interruption insurance is designed to provide compensation for lost income during this time. The standard period of coverage is 30 days, but what if restoration efforts take longer than that?
There are many many factors that affect the duration of the restoration process, such as the extent of the water damage, the quality of restoration services rendered, and the effectiveness of communications with your insurance provider.
Here are several ways to promote a quick recovery and lower your business interruption claim.

1. Address Flooding Promptly
Flooding can damage just about anything in your building, including walls, ceilings, floors, equipment, and paper documents. If water is left to sit, mold growth can occur within a day or two, which will complicate restoration efforts and likely prolong the restoration process. If you address large water damage as soon as possible, you can shorten your building's recovery time.

2. Hire Professional Restoration Services
Water damage to commercial buildings often requires professional restoration services. It is important to contact a team of professionals quickly so that you can restore as much of your property as possible. The team will also be able to ensure that all water is removed so that you can avoid mold growth.

3. Keep Detailed Records
Take photos of every incidence of damage from multiple angles. Keep records of all communications with the restoration company and the insurance company. Inadequate record-keeping and ineffective communication can lead to a claims process that is longer than it needs to be.
Following these tips will help your business bounce back from water damage quickly. You can lower your business interruption insurance claim and get back on track.