Protection For Businesses When Fire Damages Causes Closure

5/1/2019 (Permalink)

What Does Business Interruption Coverage Cover after a fire?

If your building catches fire, your property insurance coverage may help you replace the building, your desks and copiers, and inventory from your warehouse. It may also cover the cost of hiring a fire restoration company. However, this type of coverage doesn't cover your lost revenue. What does interruption insurance cover?

• Employee wages and other routine operating expenses
• Profits you would have earned if your business hadn't been affected by fire
• Costs related to moving to a temporary location
• Lease payments for the property affected by the fire
• Loan and tax payments

What Isn't Covered by Interruption Coverage?

It's important to understand that there are exclusions to this type of coverage. For example, some fire restoration services may be covered, but the expenses that result from a flood or earthquake probably won't be covered.Water damages are often paid for out of your business budget. Other costs that may not be covered include

• Utilities, which are usually stopped after a disaster
• Undocumented income, such as a recent increase in income
• Losses due to voluntary or partial closures
• Losses related to power outages and downed power lines

SERVPRO of NW Charlotte, Lincoln County, Southern and NE Gaston County is part of a national network of 1,700-plus franchises, we’re locally owned and operated and part of the Mecklenburg, Lincoln, and Gaston communities. protection

For questions, contact us anytime at (704) 393-7890 or request help online.