What To Consider in Your Fire Damage Claim

8/22/2018 (Permalink)

Fire can be tragic to your home or business, be prepared.

A building fire in Jamestown, NY, can be a financial disaster, but it’s often surprising how much a property can be damaged even if the fire is minimal. Fire damage is not just limited to flame. Structural and personal property damage may also come from one of the secondary aspects of a fire, such as:

• Heat
• Smoke
• Soot
• Water

Insurance Claims

Your insurance adjuster may need records of purchases, photos, and floorplans to help with the claim. You are already aware of the structural damage for your claim, but don’t forget about damage to contents as well. Any photos you have of the buildings contents and structure before the fire can be helpful with your claim.

You may not even be aware of some damage because you don’t see it. Consider electronics equipment and appliances that may have been damaged by smoke and water, even though they were spared from heat and fire. These require cleaning to prevent further damage. Acid from smoke can corrode electrical connections, and water can damage components.

Business Interruption

When you experience a building fire, you may have business losses, and your insurance may include coverage for these costs. These usually include the financial impact of not doing business, or additional costs that are needed to continue the business, such as:

• Revenues that you would otherwise have earned if it had not been for the fire loss
• Ongoing rent and utilities on a property that you can’t use due to fire damage
• Loss of production from being moved off your property or for a temporary relocation
• Loss of business because of employees that left as a result of the fire

Be prepared to provide a lot of documentation to a forensic accountant doing the legwork in assessing your losses.

Recovery Process

The professional fire mitigation company you work with will be helpful with cataloging your losses and providing information for your insurance claim. They are efficient and organized with the process, minimizing your headache by providing all your fire damage mitigation and restoration needs with just one company.

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