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Fire & Water - Cleanup & Restoration

3 Steps Toward Limiting Revenue Loss After Fire Damage

4/14/2020 (Permalink)

A fire destroyed five stores on the Atlantic City Board Walk Fire loss in Tri-Lakes, CO

3 Steps Toward Limiting Revenue Loss After Fire Damage

A fire can result in costly damage and lost revenue if a business cannot resume operations until restoration is complete. Business owners may limit revenue losses during fire restoration by taking several steps such as making an interruption insurance claim or a temporary relocation in Tri-Lakes, CO.

1. Make a Business Interruption Claim
Coverage for interruptions in regular operations can offset continued expenses and lost revenue after damage to a facility makes it impossible for a business to operate. This additional coverage is not included in general commercial property policies. Calculate the amount of coverage by factoring in average operational costs and revenue for the duration of a closure, which could range from weeks to months.

2. Consider Operating In a Temporary Location
Interruption insurance only covers damage that prevents a business from operating out of a primary location if it is not possible to run the enterprise from an alternative location. A business owner might be able to sustain revenue by shifting operations to a backup location. Insurance coverage may be available to offset the costs of this strategic shift in the event of a fire or another disaster.

3. Choose a Reliable Restoration Company
A company that provides services at every stage of fire restoration from assessment to mitigation, cleanup and rebuilding can offer a more accurate estimate and schedule. Having access to an accurate timeline for restoring damage can empower business owners to make the best decisions with regard to revenue.
These three measures may help to either cover lost revenue or enable a business to continue operating during the restoration of a primary location in Tri-Lakes, CO. The faster fire, water, and smoke damage can be restored, the lower the amount of an interruption insurance claim or overall revenue loss. A leading provider of damage mitigation, cleanup and restoration services can complete a job on schedule.

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