What Does my Commercial Fire Insurance Cover?

8/22/2018 (Permalink)

Fires can wreak a lot of havoc on a building, but they don't have to completely undermine your business.

Your business in Peoria, AZ, needs protection against various perils it could encounter, such as natural disasters, fire damage, water damage or theft. Your property insurance covers many of these perils. It can protect you from having to pay out of pocket for mitigation services, repairs or item replacement. Here are a few things you should be able to expect from your property insurance policy.

Item Replacement

If your building catches fire, many of the items inside are bound to be ruined beyond repair. A good property policy will pay to have items essential to your business replaced. Such items could include:

• Office furniture
• Production equipment
• Office machines
• Inventory

Check with your agent to see if any exclusions apply before you sign off on the policy. You want to know what you can expect before disaster strikes.

Building Repair

Your commercial property insurance should pay to repair any fire damage to your building. Fire mitigation involves assessment, smoke and soot cleanup and sanitation. To streamline the process from start to finish, you can hire professionals who specialize in both mitigation and restoration. Make sure that you have enough insurance coverage to pay for the whole repair process.

External Mitigation

Many property policies also include structures outside the building that are affected by the fire. Fences may need to be repaired. The landscaping may have to be restored. Storage structures that are still a part of your property are likely to be covered under your property insurance, as are many of the items inside the structures that are damaged. Be sure to include external damage when you document your losses for your insurance adjuster.

Fires can wreak a lot of havoc on a building, but they don't have to completely undermine your business. Your property insurance is designed to cover most of the fire damage that may occur on your property. Make sure you know exactly how far your policy extends. For more information, visit http://www.SERVPROpeoriawestglendale.com/.