Business owners across the UK have been impacted by Storm Bert and Storm Darragh; with property damages caused by strong winds and/or flooding, knowing what to do and what insurance policies cover what areas of your business can be a bit confusing. We have sourced advice on what to do next and included a quick overview of what policies cover what areas of your business if you do need to make a claim.
My Business Premise or Property is Flooded – what should I do?
Firstly, property owners, business owners and their employees should only return to the property if it’s safe to do so. The Association of British Insurers (ABI) has released a 6 step recovery guide which is as follows:
Step 1 – Contact your insurer as soon as possible
They will advise you on arranging emergency accommodation if necessary (or any temporary alternative trading premises if you are a business with business interruption cover), the information they will need from you to support your claim, and how to go ahead with the immediate clean-up and repair process.
Step 2 – Assessing the damage and finding temporary accommodation
A loss adjuster will be appointed to assess the claim. An initial assessment of the damage will be done, the repair process explained and the options for alternative accommodation outlined. You should expect to hear from your loss adjuster after contacting your insurer and they will get in touch if they need to arrange a visit to your home.
Step 3 – Cleaning and stripping out
Your loss adjuster will organise the cleaning and stripping out of your premise. This work should start within four weeks of discussing it with your loss adjuster.
Step 4 – Disinfecting and drying your home
Your insurer or loss adjuster will appoint a drying company to disinfect and dry out your home. This can take from a few weeks to several months. Your loss adjuster will give you a timetable and keep you informed.
Step 5 – Repair and reconstruction
Repair work should begin shortly after you get your drying certificate from the drying company. Your loss adjuster will appoint a builder to do the repair and reconstruction work and will keep you updated on expected timeframes. You can also ask your insurer if you are eligible for Build Back Better, which can include installing property flood resilience measures as part of flood repairs.
Step 6 – Moving back into your home (or building)
Your insurer or loss adjuster will discuss with you when you can return home (or your commercial property). Depending on how badly damaged your home is, this can be between a few weeks and a year or more after the flood.
6 Step Guide directly from ABI
What to do if my property suffered from damage due to storm force winds?
Again, the ABI has advised on what to do in the event of damages because of storm force winds which are as follows:
- Contact your insurer as soon as possible. Most will have 24-hour emergency helplines to ensure you get advice on what to do and arrange repairs as quickly as possible.
- If necessary, arrange temporary emergency repairs to stop any damage from getting worse, but speak to your insurer first. If you have to arrange emergency repairs yourself, tell your insurer and keep any receipts, as this will form part of your claim.
- Do not be in a rush to throw away damaged items, unless they are a danger to health, as these may be able to be repaired or restored. Your insurer will advise.
Business Owners – what policies should I be checking?
Most commercial insurance policies cover storm damage and any stock and equipment if affected.
A Business Interruption policy will cover the costs of loss of trading due to the damage and your business not being able to operate or open to the public. In some cases, the policy can cover the cost of operating elsewhere while repairs are being conducted. This type of policy may be combined with your business insurance policy or taken out separately.
A comprehensive motor insurance policy covering any commercial vehicles will cost the cost of repairs and replacing vehicles that was caused by the storm.
Be prepared for the next storm
With extreme weather becoming more of a regular occurrence, having the right protection in place can give you peace of mind if your business or home is affected.
Speaking to a commercial insurance broker like us, we have a wealth of knowledge of all the insurance policies that are available and what may be best suited for your business to protect you from any future eventualities.
Call 01535 303310 or complete our contact form for a no-obligation discussion of your business insurance.