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Fire & Water - Cleanup & Restoration

Business Income Coverage Can Help After Fire Damage

9/17/2019 (Permalink)

A red fire alarm on a wall. There are many things you can do on your own in your efforts to get the best out of your interruption insurance.

If your business has recently suffered fire damage in Chesterfield, MO, having interruption insurance can help you get back on your feet more easily. This type of policy, designed to protect against business interruption, can help cover some of the direct and indirect losses from the fire while you rebuild. This, together with the reconstruction advice you can get from a fire restoration company, can help you quickly get back to business as usual. To get the best out of your policy, here are a few tips to keep in mind:

1. Review the terms and conditions of your policy.

As a first step, it is a good idea to refamiliarize yourself with the key provisions of the most up-to-date version of your policy document so you know the exact recovery costs you can claim.

2. Get in touch with your agent.

Your next step should be to contact your agent to get the process going. You can get short-term interruption insurance coverage to meet your most immediate costs such as those related to the repair and reconstruction of the fire site, as well as those for the security and protection of the property. You could also be able to cover expenses you incur to continue to run the business, including but not limited to the use of a temporary location.

3. Keep track of everything.

Receipts, documents, and other proof of expenses will be important for your claim, so it is advisable to keep all such evidence safe and securely filed away. At this point, you should also be cautious about signing any claim document that indicates the entire amount due, as it will take some time to determine this figure. Be sure to carefully read any document that requires your signature.

There are many things you can do on your own in your efforts to get the best out of your interruption insurance. That said, you should not hesitate to get professional help when there is a need for it.

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