Restaurant Property Damage Claims
Background Information
In 2018, there were 41,366 drinking and eating establishments in Florida. Over one million people are employed in this industry with over $50 billion in total sales estimated in 2018. Without a doubt, the restaurant business in Florida has been booming as its population and tourism flourishes.
Types of Property Damage most common to Restaurants
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Restaurants typically face just a few different types of property damage claims. The most common are Fire & Smoke claims. Let’s take a look at property damage claims filed by Restaurants:
- Fire
- Smoke
- Water Damage
- Equipment Breakdown (Boiler & Machinery)
- Hurricanes & Tornadoes
- Mold
- Business Interruption
In 2018, over $150 million in property damage claims was paid out to Restaurants in Florida.
Since Fires predominantly start in the kitchen area, it’s important to take all steps necessary to minimize these losses. A restaurant can do the following for prevention of fires:- Keep kitchen equipment clean
- Provide employee training on equipment, care, and prevention
- Install smoke alarms, sprinkler systems, and fire extinguishers
One of the other claims that restaurants deals with is called Business Interruption. If there is a fire or hurricane, there is a good chance electricity will be suspended, restaurant will be closed, and food will be lost. When there is loss of revenue from the restaurant being closed, filing a business interruption claim with your insurance company is vital to prevent a financial catastrophe. The problem lies with your insurance company NOT wanting to pay for any business interruption and will more than likely DENY your claim.
How will The Claim Squad Public Adjusters help in the damage to my property as a Restaurant owner?
Restaurant property damage claims have advantages versus other types of properties that an experienced public adjuster like The Claim Squad Public Adjusterscan take capitalize on.
What we will do:
- Review your policy to not only determine coverage for the property but
also for Business Interruption - Investigate the cause of loss
- If a fire claim, work with local fire department to get all the evidence
- Make sure the property is safe to enable you to continue your business operations or get your business back up ASAP
- Take photos, generate computer diagrams, prepare an estimate, etc.
- Give you a FREE analysis on how we can help in your claim
