Commercial Water Damage Insurance Claim Tips

9/10/2019 (Permalink)

One of the major risks that threatens a business owner is commercial water damage and knowing how you can maximize your commercial water damage insurance claim. There are many components to consider and can be overwhelming to any business owner or manager. Some issues require immediate action just as soon as the water damage has begun in order to save what can still be saved.

Contact a Commercial Restoration Company

Contacting your local and trusted commercial restoration company, like SERVPRO of Central Phoenix, will help mitigate the water damages to your commercial property. We’ve seen it and done it many times and know the process well. Our Certified water technicians are available 24/7 everyday for your emergency commercial water damage disaster.

Commercial Property Owners with Water Damages.

Prior to filing, you’ll want to prepare all the information you’ll need to maximize your insurance claim. Ensure that the property is safe to enter and take photos and videos of anything and everything affected, both inside and out. The documentation done initially of the commercial water damage is so imperative when providing the evidence for the initial presentation to your insurance company. Find your commercial property insurance policy and print it so that you have a hard copy of it on hand. 

Contact your disaster restoration service provider and then call your insurance company to give notice of the loss. Be sure that the water damage mitigation company tests the property for potential issues like; mold growth, or any structural damages.

Commercial Property Water Damage Claim Strategy

Your next priority is to develop a plan and strategy with your public adjuster for the commercial water damage claim. A commercial water damage claim can go in so many directions so building out a strategy to stick to will strengthen the claim. Here is a list of questions to go over with your adjuster that will help build your strategy.

1. What are the initial costs for repairs and restorations for the water damaged property?
2. What is the extent of the commercial water damages? The Scope?
3. What are the benefits in the insurance policy contract?
4. What are my duties and conditions stated in the insurance policy?
5. How will interruption to business be claimed?
6. Does the policy have coverage for “Boiler and Machinery” or “Extended Period of Indemnity”?
7. Do any of the damages to the property need to be brought up to code?
8. What is the estimated time for the repairs to the restoration?
9. How long will it take to receive a payment from the claim?
10. How long will the claim settlement process take?

If you’re not prepared with the right tools in you arsenal before filing your claim for commercial water damages, the chances of your business recovering are not so good. At SERVPRO of Central Phoenix, we understand this and work to provide you with everything in our power to help strengthen your claim. We even work with your insurance company to help alleviate some of the stressful impact the situation has on you. Call 602-386-4268 when you need us!