Floods are very damaging to business structures. The water often creates a significant amount of damage to the structure itself. It can require mold remediation.
After a storm, you may need help recovering from flooding. In some cases, your business insurance may help. Take some time to consider what to do after an event.
Assess the Damage
Don't put yourself or your employees at risk. View as much as the property as is possible. Determine that the electricity is off if there is standing water. Contact the gas company about risks as well. When necessary contact the fire department for gas leaks.
Call Your Insurer
Determine if you have flood coverage in your business insurance plan. If you have a flood insurance plan, you may have financial help. Your insurer can help you determine this. The insurer can answer questions about:
- if you have flood coverage
- if the current event qualifies as a covered event
- the amount of coverage you have
- if you have support for demolition and cleanup needs
- what your next steps are
Most of the time, your business insurer will visit your location after an event. Don't clean up until they do. Don't remove debris.
What You Should Do Now
After contacting your insurer, there are several steps you need to take. This is important if you have business insurance for flood damage.
- Take photos of the damage. Photos can work as proof about the claims.
- If you need to extract water, inform your agent of this need in advance.
- Always keep employees safe.
- Document the events occurring.
- Have a professional determine if mold remediation is necessary. Complete it if so.
- Work with your agency to schedule the cleanup and repairs.
- Document that process, too.
Do not settle your claim immediately. Instead, work closely with your agent throughout the process. It can be difficult to know the extent of the damage initially. You may need support from your business interruption coverage as well. Over time, you need to add up all costs involved in the event. Be sure your claim covers them all.
Hire only licensed and trusted professionals to handle the cleanup work. Spend time talking with your business insurance agent. Be sure you take advantage of all components of your plan that can help you recoup and get back to being open.
Contact us for an El Paso business insurance quote. Let Pan American Insurance help.