Make sure your business insurance policies cover you against fire damage

An electrical fault with a piece of equipment, can lead to a whole building going up in flames. Flooding can be due to adverse weather, environmental incidents or problems with the water system at your or neighbouring commercial property such as poor drainage, damaged roof or a burst pipe etc.

Imagine the scenario: you get a call at 2pm on a Monday to say your commercial premises is on fire. You are away with your family on holiday. You call the Police and your property director evacuates and secures the building and checks the emergency plan to identify key contacts like your industrial cleaning company and your business insurance company.

Your director calls Charles Piton Ltd for emergency help with fire damage restoration and arranges an immediate clean up. First, however, CPL helps you photograph, film and document the fire damage including producing an inventory of furniture, fittings and fixtures.

You tell your director that a rapid response ensures the best and most cost effective results. Both water and smoke seep deeper into the fabric of the building over time and often it’s a requirement of your insurance policy that you take all action to stabilise the property after an incident and stop further damage. This explains why a swift clean up from a dedicated fire and flood damage restoration company is essential.

fire damage restoration

Call CPL for emergency help after fire damage and when making a business insurance claim 24 hours per day 365 days of the year.

Your business insurance will cover buildings and contents enabling you to repair fittings, fixtures, replace furniture and rebuild the fabric of your premises if necessary. You tell your director that your asset protection insurance covers stock and business interruption insurance applies because you have to suspend trading temporarily.

Alternatively, you may be a landlord which means loss of rent might be the most immediate concern because you need to pay the mortgage. Even if you let commercial premises, tenants need their own business insurance. Landlords who do not own the building can still take out fixtures and fittings insurance. You need one single comprehensive business insurance policy that includes asset protection insurance. Charles Piton Ltd will help you notify your insurers that you want to make a claim and pass the case to your loss assessor and your insurance company’s loss adjuster.

business insurance

Check your business insurance cover today to make sure you have adequate cover to ensure business continuity and limit customer drift.

A loss assessor can manage emergency building works, negotiate interim payments to cover emergency costs including replacing furniture, fixtures and re-stocking if you have asset protection insurance, as well as staff wages. They can help you find temporary premises and they can assess fire damage and loss. A loss assessor will prepare your claim and negotiate with your insurer’s loss adjuster, their investigator, surveyor, solicitor and contractors. They will negotiate the maximum possible settlement and compile a business interruption claim which calculates your loss of profits based on forecasts of present and future turnover not turnover from previous years. They can also escalate the claim if there is any disagreement about interim or final payments.

However, if you need building repair work done, a loss assessor will assign a chartered surveyor, contents specialist and builder, usually without charging a recruitment fee. You can appoint your own builder etc. but the loss assessor, who works for your business insurance company, may then charge you commission. Charles Piton Ltd is an expert fire damage restoration company that can help you negotiate with your insurers. In the end, your building will be pristine: cleaner than before the fire.

Also call Charles Piton Ltd for expert help with all aspects of fire damage to property, assets and loss of revenue.

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