How Much Revenue Can I Lose After a Fire Damage?

10/16/2022 (Permalink)

Fire cleanup in a restaurant.

What Happens If Your Business Slows Due To The Interruption Of a Fire

A fire at your business is the last thing you want to deal with. But you can't help but worry about what will happen if your income slows due to the interruption of a fire. Luckily, there is insurance for that: business income coverage.

Before we get into exactly how much revenue can be lost after fire damage affects your business, let's talk about why this type of coverage exists in the first place. Business income insurance helps keep your cash flow coming in after an unexpected event like a fire damages your building or other property. You may be wondering why this is necessary if you've purchased another kind of commercial property policy (like comprehensive or all-risk). If something happens at one part of my building but not another part (and it doesn't affect all parts), then isn't that covered under these other policies? The answer to that question depends on who owns what aspect of the structure damaged by fire:

What is business income coverage?

Business income coverage is a type of property insurance that pays for the loss of income from a covered event. It also goes by the name business interruption insurance and can help pay for extra expenses that keep your business running in the wake of a disaster.

Business income coverage has two parts: indemnity and expense reimbursement. The indemnity component covers lost profits when your commercial property is damaged or destroyed, while the expense reimbursement component ensures money isn't an obstacle to getting back on track after an incident occurs.

Income coverage and extra expense coverage.

An income loss coverage will help you with the loss of revenue after a fire. The reason why this type of coverage is called an “income” loss coverage is because it will cover your business’s income, not its overhead costs.

An extra expense coverage can help you pay for other expenses that arise because of damage to your property, like additional wages for employees who need to work overtime in order to get everything done on time. If your business has employees, you should definitely consider getting this type of policy as well.

Other ways income coverage can help.

When it comes to income coverage, the best way to know you’re properly insured is to speak with a qualified insurance agent. They can help you understand what your policy covers, and whether it will be enough if your business is damaged in a fire.

There are a few things that can affect the amount you can recover after a fire damages your business. Let's look at some of them:

• The amount of damage to the business. If your business is severely damaged, it will cost more to repair or rebuild and open again than if it was only slightly damaged.
• The amount of time your business is closed due to fire damage. If you must close down for several months while repairs are being completed and new equipment installed, you'll lose money that could be used towards paying off debt or investing in other areas of your company.
• The type of insurance coverage you have on hand at the time of fire loss (or other disasters). If other insurance policies cover certain types of losses related to fires—such as liability claims from injuries caused by smoke inhalation—it may be possible for those policies' limits to exceed what's offered through commercial property insurance alone.

How much revenue can be lost?

The damage from a fire may affect your business in two ways: the immediate loss of revenue and the long-term loss of revenue.

The immediate loss of revenue occurs when your business is unable to operate due to fire damage. For example, if you are a restaurant and your building has sustained significant damage from smoke or water infiltration, you will likely be unable to open for business until repairs are made and inspections completed. The loss during this period may be temporary or permanent depending on the extent of damage sustained by your property and other factors related to the situation at hand (elements such as insurance coverage).

Business income insurance helps keep your income coming in after fire damage.

There's a type of commercial property insurance that can help you recover the revenue you lose after fire damage. It's called business income insurance, and it's designed to cover the losses your business sustains when you're unable to sell goods and services due to an insured property loss.

Business income insurance covers your costs for things like:

• Lost profits, including lost revenue from sales (some policies will reimburse you for the cost of goods sold)
• Additional advertising expenses caused by the interruption in your business operations (e.g., newspaper ads)
• Extra wages paid to employees who were unable to work because of the fire

Remember that it's important to get business income insurance. In the event of a fire, this insurance can help you keep your business running and make sure you're protected against losses like this in the future. We hope you found this article helpful as well!

Smoke Damage in Commercial Buildings Usually Requires Professional Help

8/20/2022 (Permalink)

Smoke cleanup services in Baker, LA

Fires are by nature a destructive event. Probably worse than the fire itself is the smoke damage, which will spread much further than the burn damage. A small fire in Baker, LA, can release an incredible amount of smoke, which tends to get into every nook and cranny.
If the damage is extremely isolated and there’s no soot damage, you may be able to clean it yourself. Once a sooty residue is left behind or the damage has gone beyond a single room, you’ll certainly need the best professional smoke cleaning available.

Very Small Cleanups Are Possible In-House

A tiny fire, such as something burning on a stove that’s quickly extinguished, can be handled by your employees. There are a few cleaners that will work:

• Rubbing alcohol
• Vinegar
• Tri-sodium phosphate (TSP)
• Bleach

The best bet is usually TSP and water. Mix 1 tablespoon of TSP into a gallon of water and wipe off the smoke damage. You can add a cup of bleach for the best smoke cleaning, but don’t use bleach on items that aren’t colorfast, such as fabrics and drywall.

Heavy Cleaning Requires Certified Cleanup Specialists
Smoke is a really nasty substance. It’s oily and acidic and the tiny particles can get places that aren’t protected, including inside electronics and appliances. It can contain toxic elements and it’ll leave stains on many surfaces. Specialized equipment and solvents are needed for significant damage.
The Institute of Inspection Cleaning and Restoration Certification (IICRC) is the national organization that certifies select local restoration experts in Baker, LA. Companies that meet the standards have technicians who must attend a smoke cleanup and restoration course and pass an exam.
Soot is very sticky and can be impossible to clean without dangerous cleaning agents restricted to those who are trained to use them. Furniture and clothing can often be saved by using IICRC approved methods to remove soot damage. The more absorbent materials are, the harder they are to clean, so expert help is essential. SERVPRO eliminates smoke damage and leaves your business “Like it never even happened.”

How Security Fencing Will Protect Your Commercial Property After a Fire

5/25/2022 (Permalink)

A security fence acts as a great deterrent.

How Would Security Fencing Protect Your Commercial Property?

If you are dealing with the aftermath of a devastating fire or another damaging event on your commercial property, there are many issues you must handle. In addition to making renovations and covering costs, you must also consider protecting the property from further damage.

Advantages of a Security Fence
There are many reasons to install security fencing around your property before you begin renovations to your building.

Safety Concerns - Curiosity entices many people, both young and old, to explore a deserted structure. Damages caused by fire will undoubtedly present many opportunities for injury. Tripping over broken structures or falling into crevices are only a couple of the concerns. Someone who is injured may also seek legal counsel, which could be very costly to your business.
Vandal Issues - There are those who may look to benefit from an unprotected building by stealing anything that could be salvaged. A security fence acts as a great deterrent.
Wild Life Concerns - Many small animals, such as raccoons and mice will more than likely occupy the open space very quickly. This can cause more damage to the property.
Insurance Compliance - Some insurance plans require that the property is secured with fencing before renovations can begin. A non-fenced area can become more damaged and cost more to renovate. In this case, the insurance company may not cover any of the damages after a fire at your property in Baton Rouge, LA.

Steps to Take When Installing a Fence
Talk with your insurance agent about the optimum fencing for your location. They will consider many issues when determining the best fit, including the property location and the size of the overall property. Wire mesh and chain link options are two of the choices available. Your fire restoration service can help you install the security fence.
Keep your building protected and reduce further damage after a fire with secured fencing around your property.

Mold Standards You Need To Know Before Commercial Mold Clean Up

4/18/2022 (Permalink)

Mold clean-up services in Baker, LA.

Mold Standards

When hiring experts to clean up a mold issue in your commercial business, you expect them to be aware of mold standards. However, it's important to be aware of these standards, yourself. Slipups can cost you financially, as well as lead to the regrowth of the mold that was causing the problem in the first place. Educate yourself on the rules and regulations to be safe.

Standards for Professional Mold Clean Up

If you bring in an honorable professional mold remediation team, they will not skirt around important regulations. It's your responsibility as a commercial business to make sure that the experts you bring in are holding up their end of the bargain. Some resources that you can acquire on mold standards include:

• The ANSI/IICRC S520 - Mold Remediation -
• Third Edition: 2015
  
• EPA guidelines for mold remediation in schools and commercial buildings
  
• OSHA's Mold Standards
  
  

These documents are up to date at the time of this article's publication but always check for the newest edition. Also, it's important to be aware of the state plan in Baker, LA and whether or not it is OSHA-approved. This means that it is up to par or better than the standards outlined by OSHA.

Examples of Standards Set Forth

The availability of the documents above varies. Here are some examples of what you will find in the aforementioned resources:

• Safety tips
  
• Inspection and determination standards
  
• Regulatory equipment, tools, and materials
  
• Principles of mold eradication
  
  

The list goes on! The experts you bring in should already have knowledge of these standards. If they do not follow the standards set forth in your state, you can take action.

Why This Is Important for Mold Clean Up

Mold overgrowth can have devastating ramifications for a commercial building. The structural and property damage is not worth skipping out on reading a few legal documents. If standards aren't met, you're faced with the chance that black mold will reappear, and the mold clean-up process will have to start all over again. Educating yourself and your business can save valuable time and resources down the line.

Do Tenants Have to Pay for Flood Damage?

2/23/2022 (Permalink)

Recovering from flood damage can be difficult, especially when you need help to remove, repair, and restore damaged property.

Is It Necessary For Tenants To Pay For Flood Damage?

If you rent a commercial property, you may be worried about insurance coverage in the event of a flood. Considering you don’t own the building, you may be uncertain on the type of renter’s insurance you need – or if you need renter’s insurance at all. Don’t get caught out when it’s too late and your property is already flooded; learn what you need to know about flood damage and flood insurance in Zachary, LA.

What’s Covered by the Building Owner

When it comes to renter’s insurance, the building owner is liable for insuring the actual structure itself. If any structural damage is incurred during a flood, then the building owner’s insurance will take over paying for any repairs and replacement. This generally includes damage to roofs, windows, walls, building systems, and external parking and fixtures.

What’s Covered by the Tenant

As the tenant, you are responsible for obtaining renter’s insurance for anything inside the building. This means any furniture, appliances, inventory, computer equipment, or other property specifically belonging to you. If your items are damaged in a flood, you should obtain appropriate insurance coverage to safeguard your belongings.

What If the Building Owner Supplies Equipment and Furniture?

Because those items are the property of the building owner, in this specific instance, they would also be covered under the owner’s insurance rather than the renter’s insurance. Nonetheless, you should discuss the extent of insurance coverage and expectations with the building owner ahead of time, well before a flood.

Recovering From Flood Damage

Recovering from flood damage can be difficult, especially when you need help to remove, repair, and restore damaged property. It’s not impossible, however, and a good business owners’ or renter’s insurance policy can make all the difference. Before shopping for an insurance policy, do a complete inventory of all equipment, merchandise, furniture, and other items that you would have covered by the policy before determining what’s the best policy for you.

What Causes Smoke Odor Damage?

1/26/2022 (Permalink)

Commercial fire damage in Baker, LA.

Causes of Smoke Damage

Smoke odor can be very persistent. If a smell lingers after a fire at a commercial property in Baker, LA, property owners or managers should identify and eliminate the sources of the odor. Here are several causes of smoke damage that can be eliminated through smoke cleaning.

Smoke Particles

Smoke particles can be as large as several microns and range all the way down to 0.001 micron. There are several ways to filter out larger particles:

• Air filters or purifiers
  
• HEPA filters
  
• HVAC air scrubbers
  
  

None of these methods will be able to eliminate the most miniscule smoke particles. It will be necessary to neutralize the odor of these particles in order to get rid of every trace of damage.

Lingering Traces

Very small smoke particles can cause odors to persist even after filtration. Smoke cleaning professionals use several odor neutralization methods:

• Ozone machines
  
• Hydroxyl generators
  
• Thermal fogging
  
• Vapor modification
  
  

All of these methods are effective for eliminating smoke smells. Ozone machines and thermal fogging work quickly, but require evacuation. Hydroxyl generators and vapor modification take longer to achieve the same level of odor neutralization, but treatment can continue while occupants remain in a structure.

Surface Residues

Smoke smells may also be due to residues found on surfaces such as ceilings, walls, furniture, or window blinds. Restoration experts may use chemical sponges or wet cleaning solutions on surfaces. Furniture and other textiles may benefit from dry-cleaning or foam treatments. These methods may remove discoloration and odors from items or materials that have sustained damage.

A smoke cleaning service can recommend solutions for eliminating particles, residues, and any traces of smoke damage lingering in a structure in Baker, LA. Property owners may need to document and maintain proof of damage in order to demonstrate the need for professional cleanup services. Smoke odor remediation may be covered by commercial property insurance policies.