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Fire & Water - Cleanup & Restoration

The Costs and Relevance of Business Fire Insurance

5/16/2022 (Permalink)

Ceiling with smoke, cleaning ceiling with smoke with a sponge Fire damage cleanup in Lighthouse Point, FL.

The Costs and Importance of Commercial Fire Insurance

Surviving the devastating consequences of a business fire in Lighthouse Point, FL depends upon many factors. Your company will find that its preparations before a disaster strikes will be critical in many areas. The presence of a strong commercial insurance policy is among the most important elements that determine how quickly your company will rebound after a fire. Understanding the features of your policy is an important first step.

Insurance and Fire Damage
The damage from even a small fire can run into thousands of dollars. For 2020, the National Fire Protection Association estimated that all fires in the U.S. accounted for nearly $22 billion in property damage. While this includes large and small fires, the nature of fire and the technical nature of cleanup typically result in high expenses. Many factors are considered in the cost of your commercial insurance policy:

  • The construction quality and materials of a facility
  • Occupancy levels
  • The presence of fire prevention devices
  • The proximity to fire hydrants and the fire department

One helpful thing is that the cost of your policy can be written off as a business expense. Also, the potential cost of a fire is insupportable for most companies, making insurance a necessity to pay for repairs and property damage.

Insurance and Fire Restoration
A good insurance policy should pay for the services of a professional fire restoration company. These services include everything from the initial response, the boarding up of a building to prevent further damage and liability issues, the presence of security services and the cleanup of soot and smoke odors. The technicians will also engage in cleaning and sanitizing the building and making it safe for employees to return. The final step could involve the restoration of burned structures.
Most businesses require strong commercial insurance to protect their financial interests in the face of fires and other unpredictable events. Familiarity with your policy is a basic but important step for your company.

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