If you have a fire or water emergency, please call us now at (615) 731-4222

To have the optimal experience while using this site, you will need to update your browser. You may want to try one of the following alternatives:

Fire & Water - Cleanup & Restoration

Are you Prepared for a Business Interruption From a Storm?

6/14/2021 (Permalink)

Wet carpet inside a business. Vacuum extracting water from carpet. Concept flood damage in a Nashville, TN business Flooding in Nashville, TN

How Can You Be Ready For A Storm

When disaster strikes in Nashville, TN, the odds of a business surviving are not good. Being prepared and getting a prompt rebuild may be the difference between bankruptcy and success. So how can you get ready for the storm?

What Are the Odds?

FEMA statistics show that 40% of businesses never reopen following a disaster, 65% will fail within a year, and a stunning 90% permanently close within two years. If you have a closed business for as little as two days, your odds of remaining open after two years is one in ten.

What About Insurance?

Insurance is your saving grace – assuming you have the right coverage. A commercial policy can pay for a rebuild of your building and usually covers a few perils, including

Fire
Water (excluding flooding)
Liability
Wind
Snow

However, there are exclusions to the standard policies. If you started a fire, that wouldn’t be covered. If water damage is from flooding, you need a special flood policy. Plus, your lost business income is not included. You need business income insurance for that.

What Is Business Interruption Insurance?

While your business is closed, you may have all your normal expenses (plus additional ones) while seeing either reduced or eliminated revenue. It’s also not unusual for a business to be closed during the rebuilding process.
Probably the best way to survive a major disaster is to have good commercial insurance with interruption insurance. It’s so effective at preventing insolvency that it’s recommended by the experts if you can afford it. Also, if you’re in a flood zone, you should have flood insurance. You can check the flood zone maps to determine if you’re in a high-risk area.

What About the Storm Damage?

Immediately after the storm, contact a storm damage restoration expert to inspect your building and tarp exposed areas. Most interruption insurance has a limited time for coverage, so you’ll want to begin the process as soon as possible.
If you have the right insurance and planning, you can weather any storm. Having property damage and income coverage through the rebuild is a fantastic way to dramatically raise your odds of survival.

Other News

View Recent Posts