How Do I Value Smoke, Water Damage After a Commercial Fire?

If a fire occurs on your commercial property, there may be far greater damage than cosmetic burn marks on its surfaces and fixtures. For one, the smoke and soot from the fire contain carcinogens and corrosive particles that may make your commercial property inherently unsafe, or otherwise shorten the lifespan of its equipment and fixtures. What’s more, firefighters’ suppression efforts with water may inevitably create water damage and mold risk. All of these factors matter in your valuation of damages before you bring a claim to your insurance company. Follow along to find out how to accurately value the cost of your smoke and water losses after your commercial property experiences a fire, and how one of the proficient New York commercial fire damage insurance claim attorneys at The Law Office of Craig A. Blumberg, P.C., can fight to ensure that you recover the damages to which you are entitled.

How do I value smoke, water, and hidden damages after a commercial fire?

Firstly, smoke damage is notoriously difficult to value because it is not always as visible as the fire damage itself. But to give it your best efforts, you must investigate your commercial property’s HVAC systems, insulation, wiring, fabrics, and structural materials. Here, you should look for any acidic residue that has, or eventually will, corrode metals, deteriorate other types of materials, and leave a lingering, unpleasant odor. This may require a professional assessment from a restoration company, industrial hygienist, and/or insurance adjuster.

Secondly, for water damage, you must look beyond the immediate losses. This is because, with drywall, flooring, insulation, etc., becoming greatly saturated by sprinkler activations and hose streams, there may be the development of microbial contamination, structural softening, and even air quality risks. Again, getting a professional opinion may be in your best interest, namely from a contractor, restoration specialist, or forensic engineer. From here, you may better understand whether to claim compensation for mold remediation, water extraction, or full remediation with your insurance company.

How do I document my damages and losses for a commercial fire insurance claim?

Unfortunately, there is the possibility that your insurance company will attempt to categorize your claimed smoke or water damage as a cosmetic flaw or a routine maintenance repair. This is an effort to lowball or deny your financial payout altogether. So, you do not want to give your insurance company any opportunity to adopt this unfair tactic, and this is done by documenting your reported damages and losses as closely as possible.

This may be accomplished by sharing the test results from the professionals you employed to assess your commercial property, such as the ones mentioned above. This should be supplemented by the estimates you received from these professionals on how much it would cost you to repair or replace these affected areas. And while photos and videos may only capture the aesthetic flaws, it may not hurt to use these pieces of proof as reference points for your claim.

For further legal assistance, please hire one of the talented New York commercial insurance claim denial attorneys from The Law Office of Craig A. Blumberg, P.C. Schedule your initial consultation with us today, and see just how much we can do for you.