Business Interruption: Minimizing Flood Loss and Delays

3/10/2022 (Permalink)

The last thing any business wants after experiencing flooding or any disaster is extensive business interruption. Business interruption accounts for any losses incurred as a company attempts to recover from the loss.

Important Tips to minimize Flood Loss and Delays

After a flood, a business might need to shut down all operations or move essential operations off-site. The closure and move might cost the company revenue. Business interruption insurance can help mitigate any financial losses, but coverage depends on the policy.

The goal to a quick recovery is to hire a restoration service in Saratoga Springs, NY, especially a company with familiarity in water loss. These services can help in a few key areas, including:

• Loss mitigation
• Disaster Cleanup
• Property restoration

Flooding and Business Interruption

Many businesses, especially aging operations, can experience a broken pipe, leading to a flood. Depending on the hours of operation, a break can go unnoticed for several hours or several days, resulting in a significant accumulation of water.

The longer water is left to stand, the greater the opportunity for compounding problems. For instance, a flood can lead to mold development in as few as 48 hours.

Companies should have guards, cameras, or notification systems in place to reduce the risk of extensive flooding or unmonitored periods. However, beyond preventative measures, companies should also have a qualified mitigation service on standby for remediation and recovery.

Mitigation and Recovery

Extensive or large water damage is costly, and it is time-consuming to clean and repair. The standard restoration service has a three-pronged approach to the recovery process: mitigate, clean, and restore.

Mitigation involves stopping the flow of water and limiting or restricting the damage. It can include shutting off and repairing pipes or supply valves or using tarps and buckets to trap and catch water.

Cleaning is aimed at removing excess water and disinfecting the facility. Most restoration services will use various tools, including:

• Shop vacuums
• Fans
• Blowers
• Dehumidifiers

Finally, the service will focus on restoration, which means restoring the facility to pre-disaster conditions. As a business owner, you likely care about the timeline to recovery and restoration, but that will depend on the specific cause of your business's disaster.

Qualified Restoration Services

The key to working with a restoration professional is to only work with those who are qualified. A company should have a license and insurance. You should verify this information with the certifying bodies, ensuring you are working with a real and proven professional.

One credential to look for in any restoration service is the IICRC. Any company bearing those initials has proven its understanding of fundamental disaster response requirements. Insurance is also essential for any restoration service. Suppose the company working on your site does not have adequate or proper insurance. In that case, your business is potentially on the hook for any damages or injuries that occur on your property.

While no business owner wants to experience flooding, it can happen. The best any owner can do is limit their exposure and business interruption through planning and making necessary connections and arrangements with qualified restoration services. It is vital that you do not waste time after a flood. The sooner your property is restored, the sooner you can get back to business.