You need to know what to do after a hurricane causes damage to your business property to recover efficiently. Natural disasters can cause extensive damage to business properties, leaving owners scrambling to pick up the pieces. In 2012, Hurricane Sandy ravaged the East Coast, causing an estimated $50 billion in damage and leaving many businesses destroyed.
Last year, Hurricane Ida also left a path of destruction, especially in Louisiana, Mississippi, and Alabama. Hurricanes are an inevitable part of life for business owners in states where they’re likely to occur.
When a Hurricane Causes Damage To Your Business Property
If a hurricane has affected your business, here are a few steps you should take to begin the recovery process:
Document Property Conditions and Losses
The first step after a hurricane causes damage to your business property is to document the conditions and losses. Doing so will help you file an insurance claim and begin the repairs process.
Take photos and videos of the extent of the damage. Then, write down a list of all damaged items. If possible, save receipts for these items to include them in your insurance claim report.
Make Temporary Repairs
Prevent further damage by making temporary repairs to your hurricane-damaged property. Doing so will help protect your business and its contents from the elements until you can make permanent repairs.
However, be careful about tampering too much with the building itself, as this could jeopardize your insurance claim. If you have any doubts, always avoid caution and contact your insurance provider for guidance.
Contact Your Agent
As mentioned, coordinate with your insurance agent right away. They can help you understand your policy and what it covers. You will most likely need to submit a claim, so have all of your documentation ready. Most files required include a list of damaged or destroyed items and receipts, if possible.
You can issue a call to your insurance company to obtain a ticket number immediately. It can save you a lot of time down the line.
File Your Claim
Once you’re ready with the requirements and documents for your claim, it’s time to file it with your insurance company. You will likely have to submit your claim via their website or by calling their customer service hotline.
The next step of the process would involve an insurance adjuster. They would assess the damage and determine how much they would reimburse you. Likewise, it could take a few weeks for the entire process to go through. You should be patient while this is happening. In the meantime, start making a list of repairs you need.
Takeaway
Commercial property insurance comes in handy when times of calamities strike. It may protect business owners from financial losses caused by any damage, including hurricane damage.
But, as with any insurance policy, there are certain things business owners need to do to make sure they process their claims efficiently and receive the total amount of coverage they’re entitled to. Follow the steps above to ensure you’re taking the proper steps to get your business back up and running after a hurricane.
About RBC Insurance Associates
As an independent insurance agency, our clients’ interests come first at RBC Insurance Associates. Our goal is to provide a comprehensive, tailored insurance program that addresses your needs. We accomplish this by working with some of the finest insurance companies in the industry with the highest ratings. We will negotiate on your behalf to get the best policy terms and pricing for your program.
Here is just a sample of our leading insurance carriers.
Tags: Commercial Property Insurance, Property Insurance, RBC Insurance