Practical information in response to commonly asked questions regarding business damage.
If you need to do some urgent work to make the property safe or to prevent further damage occurring, go right ahead. Where possible use suitably qualified tradespeople and do the minimum possible to stabilise the situation. Take plenty of photos and obtain a detailed invoice for the work that is done.
Move this equipment to somewhere safe so it can start to dry out. Keep it on site so it can be assessed.
If you have access to your own tradespeople who can begin the reinstatement of your premises, we’re happy to work with them to approve the necessary repairs. A detailed quote and photos will be very helpful. If the quote appears fair and reasonable, we may be able to cash settle the claim immediately without needing to visit the property. This will allow you to progress your claim at your own pace.
For badly affected properties, MPS will do an initial assessment and can arrange for your property to be commercially dried. They can also assist with removing damaged items such as contaminated carpet and underlay. But you don’t need to wait for MPS to call you to remove your carpets and wall linings – if you have access to a qualified tradesperson, go ahead and arrange that. Just provide us with before and after photos and a detailed invoice from the tradesperson. Once your property has been dried, your MPS Project Manager will return to complete a full assessment of the work required and provide you with a written report. MPS will then work with you to bring tradespeople on board to provide quotes and complete the work within a reasonable timeframe – this depends on the tradesperson’s scheduling, and availability of materials.
Throw out perishable stock and keep good records of what you have done. Keep other contents aside for assessment. The more valuable the item, the more it makes sense to think about restoration.
Some retail stock may not be saleable “as new” but may have a salvage value that we need to consider. We will work with you on the best methods of disposal. In the meantime, we aim to pay you quickly for your damaged stock so that you can organise replacements. Customer goods are sometimes insured. It pays to have your customers lodge claims with their own insurers first.
Advise them to not drive the vehicle. We can have it towed to our storage area for assessment. They should remove all items from the vehicle, if it is safe to do so, before it is towed. If they need to move vehicles out of the way urgently, ask them to move them to the nearest safe spot they can, and we can take it from there. If the vehicle has already been towed by the authorities, let us know where and we can sort it out for you.
If you’re a building owner, potential loss of rents would follow the provisions of the lease agreement. If you experience loss of rent, you may be able to claim for this if you have loss of rent cover. If you are a tenant speak to your landlord about possible rent relief (abatement) – this is generally detailed in the lease agreement. Be aware that any rent relief will be taken into account if you make a claim on your insurance policy.
You know your business the best. We will work with you to determine what needs to be done to minimise disruption. For example, we might be able to help if you incur increased costs that would prevent an even greater loss of profit. If the disruption to your business is significant and will take a while to fully understand, we may be able to provide progress payments at regular intervals to ensure that you have the funds to manage your normal business expenses, like paying wages.
Disclaimer – The information on this page is of a general nature only, intended to provide guidance about how your claim may be managed. The steps which will be taken to manage your particular claim will depend upon your individual circumstances and your policy wording. Please refer to your policy wording for full details of your insurance cover. If in doubt about what you should do, speak to your Broker or contact Vero on 0800 800 134.