The Potential Income Loss After a Business Fire

7/28/2022 (Permalink)

The Potential Income Loss After a Business Fire

If your company is hit with a business fire, you will have many things to worry about. One of the most serious issues is the potential loss of revenue as your business shuts down for reasons of safety and repairs. For this reason, having a robust interruption insurance policy is often a necessity for many companies. This type of policy is added as a rider to your comprehensive insurance and has the following benefits:

• Pays many of the bills while operations cease
• Replaces lost business income
• Pays some or all of the expenses of a temporary facility
  
  

The coverage typically lasts for the length of the business interruption. In some cases, the coverage will last a few days after the completion of repairs.

The Consequences of Inadequate Insurance
Business insurance is there to help your company manage risks. Without adequate insurance, your company in Slaughterville, OK, is vulnerable to the devastating effects of a fire. Your company could potentially face thousands of dollars of lost income each day your business can't manufacture or sell products or provide services. Without interruption insurance, this could result in missed loan payments as well as missed obligations to vendors. Your credit rating could take a hit and your relationships with vendors could suffer.

The Benefits of Professional Fire Restoration

One way to minimize the impacts of a business fire, is to hire the services of a trusted fire remediation franchise. The SERVPRO company is always Here to Help in any emergency situation.

Trained technicians will arrive on the scene fast and begin to work to get your company operational again. After a fire, they will remove soot and smoke damage and clean and sanitize the building. They will repair all damaged areas of your facility.

Interruption insurance is a vital tool to help your company survive a fire. A fast and efficient cleanup that minimizes the disruption is also beneficial to your company's bottom line.