A major fire can completely disrupt your business operations and jeopardize the safety and well-being of your employees. It can also get you into legal and financial trouble. There are some important steps that you must take after such a disaster, failing which the matter may drag on for several days, dealing a heavy blow to your business.
Even if you are planning to re-open your business, there might still be some legal obligations you would need to take care of while your repairs are completed.
Therefore, legal and financial errands like payroll, rent, loan payments, and other costs of owning and operating a business, require you to follow a certain step-by-step damage control operation that reduces the risk of long legal proceedings and financial troubles.
6 Smart Steps To Take After Your Business Has Suffered A Fire
While you may even be sure of the reason behind the fire, taking timely action will ensure that you receive whatever is worth in value for commercial property damage and resolve any pending legal and financial issues. Let’s take a look at six steps that may help you get to the other side safely.
Document Whatever You See
First, if you have reached your business premises on time of the fire or have seen it unfold as it happened, you need to document the whole scene. It might be overwhelming at the time, but it is only instinctive to capture and document whatever you see to suffice as proof for your insurance company. Taking photographic evidence is also great to document any losses before beginning to repair until the insurance company gets there.
Get Your Insurance Company Onboard
Now that you have all the photographic evidence of the scene and how the losses were incurred, it is time to involve your insurance company. In fact, this may happen simultaneously as you are documenting the event of fire because you certainly don’t want to wait for the insurance company to take charge of the situation. Reporting the loss early will ensure that you don’t miss out on any compensation or contractual deadlines.
Allow Your Accountant to Weigh In
Once you have documented the fire event and reported it to the insurance company, it is time you let your accountant or financial advisor weigh in. You may want to learn the exact amount of loss incurred and how much you should be expecting to return in the form of your business fire claim. Your accountant may help you in dealing with the financial factor of this situation better than you do it by yourself.
Consult Multiple Contractors for Repairs
While you may have a regular contractor who works for you and does your repairs, the situation is different this time around. Having suffered a fire at your business premises, you don’t want anyone taking advantage of your vulnerable situation. Therefore, it is best to consult multiple reliable contractors to understand the maximum amount of budget you may need to set aside for renovations and repairs.
Keep track of Your Business Fire Claims
Understandably, the situation is extremely unpredictable and overwhelming, but how you handle it can make a lot of difference in a swift and preferable outcome. In fact, good planning and appropriate organizing on your part can make a big difference in how easy it becomes for your business fire claims to be resolved adequately. However, the best way to do this is by documenting everything and keeping a track record of all the parties involved and at work.
Work With a Public Adjuster
After a fire at your business premises, dealing with your insurance company can be stressful. You might feel like they’re offering less than what you deserve for the losses that occurred. In this situation, you need a fire claims adjuster on your side.
Our team of experienced public adjusters at Texas Fire Claims will work for you to make sure you get your claim paid quickly and for a fair amount. You won’t have to deal with your insurance company when you hire our team of experts.