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Fire & Water - Cleanup & Restoration

4 Crucial Steps for Business Fire Recovery

7/5/2020 (Permalink)

Visible damage to a commercial building following a structure fire Commercial building fire in Lafayette, LA

Things To Look Into Before and After a Fire

A business fire in Lafayette, LA, is a devastating experience. Even a small fire causes a significant amount of damage and many companies never recover. With the right moves, though, your company can withstand a fire and come back strong. Here are some vital things to look into before and after a fire that can make a huge difference to the well-being of your company.

1. Business Interruption Insurance. After a fire, a company often experiences a serious decline in revenue. This coverage compensates you for lost income while your company is in recovery mode. It will allow you to pay the bills, satisfy creditors, and keep your credit rating intact during this difficult time.

2. Fire Prevention. Fire alarms and on-site fire extinguishers are two vital tools that every company should invest in. These items can keep a fire small or even snuff one out entirely. A fire sprinkler system is also money well spent, especially for a business (such as a restaurant) that is at greater risk of a fire.

3. Fire Mitigation. Just as with business interruption insurance, fire mitigation plays an important role in surviving a fire. The services of a professional fire remediation team provide a variety of benefits. A fast, professional response after a fire can reduce expenses and losses and can shorten the time a company is out of business. Furthermore, quality fire cleaning can restore your building to its original condition.

4. Commercial Insurance. You should always make sure your commercial insurance policy is current and that it adequately covers your losses and expenses in the case of a business fire. Speaking with your insurance agent on a regular basis can accomplish this. It also a good idea to consider business interruption insurance. Loss of revenue after a fire can be substantial. Sometimes having the right insurance products can make a difference between survival and going out of business.

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