3 Considerations for Fire Damage Estimates

5/25/2022 (Permalink)

Fire damage in a diner in Arlington, LA.

Three Things to Think About When Estimating Fire Damage

Business or commercial property owners who have recently experienced a fire at a property should consider the following factors when assessing the damage. All of the following factors should be considered in an estimate for damage caused by a fire to a commercial property in Arlington, LA.

1. The Extent of Fire Damage
The number of square feet of a building that a fire affects is the extent of the damage. Within this area, the degree of damage could range from minor scorching to a total loss of building materials and contents. Have commercial restoration experts inspect the site of a fire to determine the extent and degree of damage and provide an estimate for remediation.

2. The Scope of Restoration
Based on the degree and extent of damage caused by fire, rebuilding or restoration can take days, weeks or even months. Restoration pros should provide a work schedule and indicate a timeframe for completion. The areas and contents of a structure affected by fire may make it necessary for a business to temporarily close or relocate operations until repairs are complete.

3. Business Interruption or Temporary Relocation
When a commercial fire disrupts operations, a business may lose revenue while facing ongoing expenses and restoration costs. Commercial property insurance is helpful for limiting cash expenses, and additional business interruption coverage can offset lost profits or cover the cost of temporarily relocating operations to another location.
An estimate for restoration should factor in the first two considerations. The extent of damage will determine the ballpark price range for the cost and how long it will take to restore or rebuild a property that has suffered damage caused by fire. Business interruption insurance can help to recoup lost revenue or relocation costs during the restoration of a commercial property in Arlington, LA.