Unfortunate events can happen at any time to anybody. Usually they come out of the blue and inevitably interrupt a large project or business goal. When unexpected losses impact your business, it can be especially excruciating. Your business is your livelihood and restoring normal operations is paramount to its continued success.
How you respond in the moments immediately following a tragedy plays a critical role in getting everything back up and running again. However, it is not uncommon for business owners to become overwhelmed and flustered in the moments immediately following interruption and unknowingly sacrifice valuable resources in the process. You will likely have many questions and be faced with many important decisions.
Knowing what to do and what to look out for is key in expediting the recovery process. Here is a helpful checklist of tips for you to follow in the event of a business property loss:
1 – Your people come first. Contact personnel to ensure everyone’s safety. If the event occurred after hours and the loss is extensive to the point that operations need to be put on hold or altered, contact your employees to let them know how processes are to take place moving forward.
2 – Contact your insurance agent and report the claim immediately. If the agent is unavailable, contact the insurance company with your claim.
3 – Keep accurate records of the aftermath. Document the date and time of the loss, as well as take photos of the damage. Do not repair or discard any damaged property until an inventory is made and approved by the insurance adjuster.
4 – Protect the property from further damage by making the necessary temporary repairs, such as boarding up windows and patching holes in walls or roofs.
5 – Keep detailed receipts for any repair costs or other related expenditures you make after the loss.
6 – If the damage is such that you are not able to operate on site, notify the police department to let them know the property will be unoccupied. Remove what valuables you can. This will help deter vandalism and theft.
Remember, it is your business that has suffered the loss, so it is your responsibility to file the claim. Be proactive. Hire your own experts and beware of contractors trying to “help” by having you sign a contract. Once people you trust are on the job, you should concentrate on restoring operations and leave the claim details to the experts.
If you have any questions or need professional guidance in the event of a business property loss, please feel free to contact us and schedule an appointment.