Commercial flood damage claims are commonly the highest due to the loss, and damage being far-reaching. There’s the damage to the building to consider, as well as staff salaries, loss of stock, paperwork and computers, to name just a few.
Damage to premises as a result of floods, fire or impact, cost both businesses and homeowners in the UK more than a £1billion a year, yet the insurance settlements’ total paid out is well below that figure.
When facing the devastating consequences of residential or commercial flood damage, time is critical. For a business, on top of the physical losses, commercial flood damage causes disruption to productivity which could ultimately threaten the company’s survival. Claims need to be dealt with promptly and comprehensively by a claims handler to ensure the business can return to trading as quickly as possible.
As these costs are commonly intangible, it is imperative businesses employ the services of a professional team, to include Building Surveyors and Claims Assessors, to deal with their insurance claim.
Commercial Building Surveyors and Loss Assessors take on the burden of dealing with a property insurance claim, which can be extremely time-consuming. The building surveyor evaluates the actual property damage that’s occurred as well as the potential risk of future property deterioration if the original damage and it cause is not dealt with effectively. With the Loss Assessor they then prepare the correct documentation and deal with all the tense phone calls with the insurance company, enabling you to get on with the task of rebuilding your business or home.
Likewise, with residential flooding, it is essential to appoint a professional team, including a Claims Assessor and Building Surveyor to fight your corner. Insurance companies will always try and keep payouts to a minimum, whereas a Claims Assessor will fight your corner to ensure you end up with enough of a pay-out to fix your property to the highest possible standard.
Peter Knight, Senior Building Surveyor at Fairhurst Estates Limited in Stockport commented:
“As well as the obvious water damage that is clearly visible, there could also be effluent contamination as foul drains overflow and, in the future if not dealt with correctly, rot could set in and cause problems.
“When faced with the devastation of a catastrophic flood, it is essential that the insured quickly builds an experienced team of professionals to work on their behalf to ensure that the claim is resolved quickly and efficiently. As Building Surveyors, we have vast experience in the damage that floods will bring, both immediately and long term.“
Peter Knight is a Senior Building Surveyor at Fairhurst Estates Limited, in Stockport. He has helped many clients through the disaster recovery process, notably floods, but also fire and impact damage.