Commercial Water Damage

What To Do if You Experience Commercial Water Damage

Commercial water damage is one of the most frequent and expensive claims small businesses face. When it comes to your business and water damage, it doesn’t take much to face a costly claim. Small business insurance can help prevent you from paying out of pocket for damages. In fact, our data shows that about 75% of losses come from leaks related to: In fact, our data shows that about 75% of losses come from leaks related to:

• Plumbing
• HVAC systems
• Appliances

4 Steps To Take for Commercial Water Damage Restoration

From finding the source of water and starting the restoration process to filing a claim with your insurer, there are steps to follow that are critical to mitigate the damage.

1. Identify the source of water damage. Water leaks and intrusions can happen in many places. Some common areas to check are pipes or holes in your roof or walls. You can also work with a local plumber to help identify the source.
2. If necessary, shut off the water main. If you have a leaking or burst pipe, shut off the water main to prevent more damage.
3. Immediately contact your insurance company. Notify your insurance company about the water damage as soon as possible. It’s a good idea to also document the damage with photos.
4. Find a restoration team. You can work with your insurer to find a company specializing in commercial water damage repair. If there’s extensive damage, there may be an emergency service for water extraction or mold remediation available for your business.

Potential Causes of Water Damage in Your Business

• Roof leaks
• Appliance leaks
• Burst or leaking pipes
• Firefighters battling a nearby fire

Insurance To Help Protect Your Business From Water Damage

Your commercial property insurance won’t cover every type of water damage claim. For example, if your business property gets damaged from flooding, your commercial property coverage likely won’t help. That’s why it’s a good idea to get different types of insurance to help protect your commercial building from water damage.

• Commercial property insurance helps protect your owned or rented building and equipment you use to run your business. This policy helps cover claims of water damage due to leaks or burst pipes. If your equipment is damaged, this insurance can help cover the cost of replacing it at the actual cash value (ACV) or repairing it.
• Commercial flood insurance helps protect your business from natural disasters that can cause flood water and damage. You’ll want to get this separate insurance policy if your business is in a location that’s at higher risk of flooding.
• Business income insurance can replace your lost income if you can’t open because of covered property damage. For example, if a pipe leaks in your ceiling and causes mold growth, you may have to shut down for water damage and clean up. This coverage can help pay your ongoing expenses, like rent, utility bills and payroll until they restore services to your business.

Get a Quote To Help Protect Your Business from Water Damage