Is Your Commercial Property Insured?
Commercial property owners want to cut costs and improve profits. However, when it comes to insurance, you should rethink that stance. We at SERVPRO of Walker & Winston Counties have found that water damage is among the most common issues businesses face, and without appropriate insurance coverage, the restoration expense is coming out of the owner’s pocket or the profits of the company. While it is true that business insurance does not cover every type of water issue, it does include many.
When you have old pipes, it is possible to end up with several leaks. Unfortunately, because of the nature of plumbing, these leaks may go undetected for weeks or even months, leading to water stained ceilings, crumbling drywall and even structural damage. Most insurance policies will cover leaky pipes, especially if you have your building regularly inspected.
Similar to leaks, cracks can cause the same types of water damage, but it may be on a grander scale. Cracks, or splits, in the pipe usually create more damage because the openings in the pipes are larger. As with leaks, if you can prove that you did not know about the damage early on, then your insurer should be willing to cover the cost.
Colder months can wreak havoc on a business, especially those operating out of warehouse facilities and garages. The reason for the issue is that warehouses and garages have pipes that are exposed to severe temperature fluctuations. If pipes freeze, then the excess pressure can lead to broken pipes. Thankfully, this too is covered by a typical business policy. However, you must prove that you try to maintain a steady temperature at your property throughout the year.
Sudden breaks should also be covered. In addition to the pipe repair, the water cleanup will likely be included as well. Your insurer may require estimates from several emergency remediation specialists in the Walker and Winston County area before funding the project.
While it is understandable that business owners want to cut costs, insurance is likely not the area to save money. Water damage can account for thousands in restoration costs alone, which is why business insurance is so necessary.