Three Steps to Lowering the Cost of a Business Interruption Claim

5/27/2024 (Permalink)

Business interruption insurance may assist you with covering certain costs.

When your Austin area business is affected by flooding, the time it takes to handle the cleanup and make repairs can have a serious impact on your employees and the company's profits. While business interruption insurance may assist you with covering certain costs, such as building rental fees and employee payroll, you can take a few steps to lower the total cost of the claim. 

1. Report the Large Water Damage Right Away 
When a broken pipe or other plumbing failure causes a significant flood, reporting the issue to your insurance company as soon as possible can help keep costs low. The sooner you report the flooding, the less time you may experience waiting, so you keep secondary damage, such as mold growth, to a minimum. 

2. Act Quickly To Reduce Claim Costs 
While a professional restoration service must handle most water damage issues, you can take a few actions to reduce damage costs, and only after the building is deemed safe. One way to lower the cost of a claim is to reduce humidity in your building caused by standing water. Open windows and use fans to ensure air circulates as much as possible, which can minimize wood warping, rot, and mold growth on most surfaces. 

3. Contact a Qualified Cleanup Service 
Maintaining a business connection with a qualified flood cleanup and restoration company can help you keep the cost of an interruption claim low. Experienced flooding technicians can remove harmful standing water and perform building material tear-outs that could cause future problems for interior wiring and other vital systems. 
Your greater Austin area commercial enterprise can suffer from flood damage that may require you to file a business interruption insurance claim. While this can be stressful, knowing how to lower the overall cost of a claim can provide you with peace of mind as you move forward with building repairs.