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Fire & Water - Cleanup & Restoration

Is Your Business Covered for Water Damage?

5/11/2020 (Permalink)

Broken water pipe in a building Commercial water damage in Romeoville, IL

Water damage to your Romeoville, IL, property means much more than potentially costly repairs. It can also mean loss of vital equipment, materials, and other belongs, as well as extensive downtime while water and mold remediation and restoration professionals get your business back to normal. Even if it might seem that facing water damage is a rare risk your business faces, ensuring your business insurance include water damage can save big headaches and bills if the “what-if” happens.

Damage Sources

When it comes to the reasons for water issues, there are three main culprits:

Broken Pipes: A frozen pipe can crack and burst, dumping massive amounts of water into a business. Even if there is no visible damage, the right conditions can result in an unexpected pipe break.
Slow Leaks: Usually plumbing or equipment related, gradual leaks can lead to big problems. Sometimes the leaks are hidden, such as if from underground or behind-the-wall plumping, but some leaks can be detected. Not regularly maintaining and inspect HVAC systems, fire sprinklers, toilets, and faucets may turn a slow leak into extensive mold and water damage.
Nature: Heavy rainfall and melting snow can wreak havoc on a property, especially if there are existing foundation issues.

Policy Coverage
The water damage covered by a policy is not always standard. While most allow claims for a pipe burst, damage that could have been prevented is often not covered. In areas prone to natural flooding, an additional policy is required to cover flooding damage. Working with your insurer and understanding the policy is vital to better prepare for the water cleanup process and what it will cost. If a business uses equipment that relies on water, there are often riders or endorsements to increase water damage coverage.
When it comes to water damage, any coverage is better than no coverage. Although not all the repairs may be covered, a little help can still make a big difference in unexpected expenses.

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