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A burst pipe can cause significant damage to equipment, lead to inventory loss, and force your business to close temporarily. When this happens, the first step most business owners in Kingwood, WV, take is to contact their commercial insurance company. Fortunately, your insurance may be able to help.
Accidental Damage
Commercial insurance policies typically provide coverage for a pipe burst caused by a sudden, unforeseen event or accident. For example, if freezing weather causes the pipe to explode due to a furnace failure you were unaware of, your policy may cover the damages. This can include repairs to appliances, compensation for lost wages, and the cost to fix the pipe.
The specific damages covered will depend on your policy. An agent at Smith Insurance Agency of West Virginia can help you understand what your policy includes.
Damage From Neglect
Insurance companies often deny claims if the pipe burst is due to neglect. For instance, if a business owner knew their furnace was broken, failed to repair it, and the building became so cold that the pipe burst, the damage would likely be considered neglect. Similarly, if the pipe was already in poor condition, the claim may be denied.
Mold Removal
A burst pipe can cause flooding in your business until the water supply is turned off. This creates a damp, humid environment ideal for mold growth. Unfortunately, many insurance policies do not cover mold remediation services in these situations. To prevent mold growth, it’s essential to clean up standing water immediately and use dehumidifiers to dry the area.
Whether a burst pipe is covered under your policy often depends on the circumstances and the specifics of your coverage. Agents at Smith Insurance Agency of West Virginia can help you learn more. Contact us today. We proudly serve the Kingwood, WV, area.
