Your loyal customers provide steady repeat business for the small business owners in Colorado, and new customers are right around the corner.
What if a disaster strikes and damages your property and interrupts your business? It may be a major fire, a pipe bursting, a Chinook windstorm across the Front Range, or some other catastrophe. How fast will you be able to recover to keep your customers?
The steps that you take following such a disaster may determine the very survival of your business.
Step 1: Brush Up On Your Commercial Insurance Policy
Ever get caught in the rain without an umbrella? When it comes to major property damage and business interruption, your insurance policy is your umbrella — and knowing how to use it during the claims process will help keep you protected.
How well do you know your commercial insurance coverage and how it will apply to disasters unique to Colorado? Insurance policies are very confusing to most policyholders it is not enough to just pay your premiums, assuming that your carrier will pay a fair settlement after major property damage without understanding the intricacies of property insurance coverages and the claims process. That is where a professional; public adjuster can help you. Instead, contact us today to sit down with you and review your policy (from a property claim perspective). This property damage claims professional is independent of your carrier and will be able to spell out your policy’s coverages and the options within that will be critical to a full recovery. Public adjusters advocate for policyholders, not the insurance company. Our handling of Colorado disaster claims makes it so that our experts have likely worked with your insurance company before in your region. We know how to manage a claim and secure a fair and just settlement without delay.
Step 2: Get an Emergency Action Plan
First, perform a risk assessment of your property and operations. Are there fire hazards or other risks that have been ignored? Are you located in an area vulnerable to Colorado floods, Colorado wildfires, or another disaster? Which safety procedures can you put into place to address them? What can you do to mitigate the potential damage?
These actions will all become part of your emergency action plan. Keep the following in mind as you create or update yours:
- Make sure your insurance policy(s) provides coverage for disasters that happen frequently in your area, like wildfires and hail damage. Also, if applicable to your location, take note that Colorado flooding is not covered under a standard commercial policy.
- Add protective features to your property to prevent major damage from common disasters.
- Have a data backup system in place for data and files, like a cloud system or partnering with a managed-services provider.
- Include a plan for payroll continuity for employees and interrupted business operations because of property damage to your facility.
Step 3: Lean on The Support Of An AI/MBC Public Adjuster
Despite your best efforts to prepare, a disaster can hit at any moment and take you off guard. If your property is damaged and operations are halted, talk with our Colorado-based team of public adjusters at AI/MBC, as soon as possible. We’re close by and will get to work right away on your property damage, business interruption, and extra expense insurance claims.
Your insurance company will have an entire team of professionals protecting its financial exposure to your claim(s). With us by your side, it is a level playing field.
Our team of licensed Colorado adjusters, forensic accountants, inventory specialists, and building estimators handle every step so you can focus on your family and rebuilding your business.
- We document all the structural property damage to the building and its contents in detail and perform complex business interruption calculations to determine your immediate and extended income losses.
- We work with your insurance company and present them with an itemized claim package that proves the true extent of your loss.
- We aggressively negotiate on your behalf to secure a fair settlement for your business.