Mould caused by commercial property water damage

Your Commercial Property Has Water Damage: Now What?

kase
Sep 14 2022

Any uninsured business owner fears experiencing commercial property damage like vandalism, theft, fire, and other natural disasters like hurricanes, earthquakes, and floods. These types of damage can cost a lot of time and money—and even cause business interruptions. 

If you are reading this article, you are most likely considering insurance for your business or looking for help regarding your damaged but insured commercial property. But if your insured commercial property has water damage and you have no idea how to go about it, this article will guide you on what to do and how you can prevent it from happening again.

Keep reading to find out more about commercial property water damage.

3 Things You Should Do In Case of Commercial Property Water Damage

It can be frustrating to find out your commercial property is experiencing leaks and water damage, which can worsen if not attended to immediately. So before it becomes a bigger problem, here are three things you should do in case of commercial property water damage:

Find Out Where the Leak Is Coming From

 A “caution” sign

The first step to solving a problem is by knowing its source. Guesswork and quick fixes will not help you in the long run. If you can shut off the main water supply, you should do so immediately. Your commercial property is your business's responsibility. It's best to get to the bottom of things as early as possible before it gets out of hand or even causes injuries.

Contact Your Insurance Company

Once you have found the source, do proper documentation. Proper documentation will make it easier for you and your insurance provider to file a claim and receive the necessary help you need to solve your problem.

Afterwards, contact your insurance company immediately. Delaying will only make things more difficult on your end. A dedicated insurance provider, like KASE Insurance, should be able to address your problem right away by helping you file a claim to get things rolling.

Find a Team To Repair the Damage

Workers inspecting commercial property water damage

More often than not, your insurance provider will be able to connect you with a partner company that can do repairs for your commercial property. You should not be worrying about repair fees if your policy covers your claim. However, if the repair team finds additional damage that will need extra repair, and your policy does not cover those types of damage, you will be responsible for the repair fees.

3 Common Causes of Commercial Property Water Damage

Just like finding the source of the problem, being mindful of what usually causes water damage can prevent it from happening again. Here are five things you should look out for:

    1. Unsealed Windows

Unsealed windows in any property can lead to moisture build-up, and if left untreated, they could cause mould as well as wood and wall warping. Have a professional inspect your windows and see if they need resealing. It is better to be safe than sorry.

   2. Damaged Pipes and Clogged Sewers

Whether you have damaged pipes or a clogged sewer, these things can cause commercial property water damage. If you see the signs, it’s time to call a professional to inspect your drainage system. Doing so can save you a lot of trouble and expenses.

   3. Worn HVAC Systems

Ventilation ducts

If your commercial property heavily depends on an HVAC system, worn-out ducts could lead to leaks. Regular cleaning and routine inspection of your HVAC system can lessen the risks of commercial property water damage.

2 Ways To Protect Your Business From Water Damage

Implement Routine Maintenance and Inspections

If it happened once before, there is a chance of it happening again. Even after repairs and restoration, no commercial property is safe from future damage. Routine maintenance and regular inspections can go a long way in preventing such issues. 

Get the Coverage You Need

Having the right coverage can save you a lot of time and money if something unexpected happens to your business or commercial property. Whether you are a big or small business, these types of insurance can protect you from unforeseen events:

  • Commercial Property Insurance - provides coverage for damages to or losses in your commercial property due to vandalism, robbery, fire, or natural disasters like hurricanes, earthquakes, and floods. This insurance does not cover third-party liabilities.
  • General Liability Insurance - provides coverage for liabilities involving accidental bodily harm and advertising damages to third parties. This policy can also cover legal and settlement fees. However, it does not cover damages to commercial property.
  • Commercial Auto Insurance - provides coverage for damages to and by company-owned vehicles used for business purposes.

Personalized Commercial Property Insurance Dedicated to You

KASE Insurance is an award-winning insurance brokerage firm in Toronto that has served businesses and professionals in various industries, such as hospitality, healthcare, transportation, manufacturing, and more.

We specialize in creating personalized insurance policies for your business, so you only pay for what you need—no hidden fees, no extra costs. Our dedicated team of insurance brokers will provide top-notch services and ensure that you understand your policy from the inside out. And if you need help filing a claim, we’ll be there at every step.

Whether you’re a new business looking for a specific type of policy, like commercial property water damage protection, or a seasoned business owner looking for more coverage, our extensive list of insurance will be able to provide the coverage that you need.

Find out how we can help protect your business. Contact us today, and we’ll get back to you.

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