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Fire & Water - Cleanup & Restoration

What Does Commercial Storm Insurance Cover and Not Cover?

5/7/2019 (Permalink)

Find out what storm insurance will and will not cover your business in Bagdad, AZ.

What Your Insurance Will Cover After a Business is Affected by a Storm

Figuring out what your storm insurance will cover after your business in Bagdad, AZ, is affected by a storm can be extremely stressful. It can be helpful for business owners to understand what costs their insurance company will and will not likely cover before a storm occurs.

1. Property Damage

A storm can cause extensive damage to the structure of a building and it’s often necessary for the structure to be restored by storm and water damage experts in order for a business to function properly and safely. In addition to damaging the structure of a building, property damage can extend to the interior of a business. Fortunately, the majority of storm policies cover the costs of fixing property damage.

2. Costs of Restoration or Replacement for Damaged Items

When a storm causes flooding inside a building, a variety of items often sustain water or mold damage. Generally, storm insurance policies will cover the cost of restoring or replacing items that have been damaged in a storm. Professionals may first try to restore items that have sustained water or mold damage before replacing them since replacement is often more expensive.

3. Business Interruption

Many businesses have to temporarily close their doors while their buildings are restored. While the majority of commercial insurance policies will cover the costs of property damage and the costs of replacing or restoring damaged items, these policies will not help to cover the losses a business may suffer due to being temporarily shut down. It can be helpful to acquire business interruption insurance in order to ensure you’ll be reimbursed for the money you may lose while your business isn’t open.

Knowing what storm insurance will and will not cover can help business owners feel better equipped to handle storm restoration. Whereas insurance will often cover the costs of property damage and the costs of restoring or replacing items, additional insurance coverage is needed to cover business interruption.

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