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Fire & Water - Cleanup & Restoration

What You Need To Know About Your Commercial Fire Damage Insurance Policy

11/7/2020 (Permalink)

Warehouse Fire Inside Commercial fire business in Stone Oak, TX

Things You Should Know Before You File Your Next Claim

When you sustain a fire in your commercial building, you need to file an insurance claim right away. Unfortunately, the process is not always that simple. Commercial insurance policies can be complicated and full of tiny details. The insurance adjuster may not bring up these finer points unless you ask about them.
That is why you should read over your fire damage policy and make sure you understand it. Here are some things you should know before you file your next claim.

1. How Your Coverage Can Change
First, you need to figure out the extent of your insurance coverage. The insurance payouts may be limited depending on the details of your policy and the nature of your business. If you fear your insurance is insufficient, find out how to add more coverage. You should also see if any recent updates to your property have affected the insurance rates.

2. How To Document Damages
Documenting water damage is usually pretty easy. You just take pictures of the harmed items. Fire damage is different, however. A blaze can completely destroy certain equipment and furniture, making the documentation process more difficult.
Contact your bank or insurance company to make sure it has a blueprint of the premises. You should also take “before” photos of the building and keep records of any assets you purchased for the premises.

3. How the Repairs Are Completed
Ideally, your insurer should use a fire mitigation company to perform any necessary restorations to the property after a fire. Make sure that your insurance provider is working with cleanup professionals who can be trusted. Do not let the insurer cut costs by hiring contractors who use dangerous asbestos or lead.
An updated and sufficient insurance policy can help you pay for fire damage repairs to your Stone Oak, TX, commercial building. You thus should fully comprehend your policy and make any necessary changes to it ahead of your next emergency.

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