4 Types of Fire Damage Covered by Commercial Property Policies

1/5/2022 (Permalink)

After a fire broke out in this restaurant, there were significant smoke and soot stains. SERVPRO responded immediately to this emergency.

Commercial Property Insurance Policies Cover Four Different Types Of Fire Damage.

Most commercial property policies include coverage for fire. Fire is the fourth most common claim filed by small businesses, and is the third most costly. The average fire damage claim amount is $35,000. Commercial insurance policies should cover most damage caused by a fire. Here are four major types of damage covered by these policies.

1. Building Materials

Fire can char or warp building materials. Combustible materials, such as wood, can be destroyed. Metal or other components may no longer be structurally sound. Porous materials, such as drywall or insulation, can be damaged by heat or exposure to water during fire suppression efforts. Commercial property insurance policies should cover the costs of rebuilding or restoring a structure.

2. Contents

Items in a fire-damaged building may be ruined by exposure to excessive heat or damaged by soot and smoke. Commercial insurance policies should cover the cleaning or replacement of contents. Obtain photographic or video evidence of damage, make a list of items, and provide proof of purchase if possible.

3. Electronics

Electronics are among the contents of commercial properties. These items often call for more specialized restoration methods and may be more expensive to replace than other contents. Most commercial property insurance policies will cover the costs of cleaning or replacement.

4. Smoke Damage

Smoke stains surfaces and contents and can cause a black film to develop on internal electronic components. In addition to restoring or replacing materials or items with smoke damage, a restoration service may also perform odor elimination treatments. Air filtration and the use of ozone machines, thermal foggers, or other methods can get rid of every trace of smoke odor.

Most commercial insurance policies cover these types of fire damage. Make sure your business has adequate coverage. After a fire occurs, provide your insurer with an estimate from a damage mitigation and restoration company in Charlotte, NC.