Emergency Ready Profile (ERP) and Commercial Buildings Loss Potential

11/22/2017 (Permalink)

SERVPRO Commercial Damage Restoration WATER | FIRE | STORM | MOLD 530-222-0200

How To Understand Commercial Property Loss

Property damage loss ratings are established to help insurance adjusters, restoration companies and real estate agents, investors and brokers understand the loss potential of a commercial building or facility’s risk and return. 

Common reasons for commercial loss insurance claims would include flood, water and mold.  Additionally, storm, hail and wind damage, vandalism, theft, among other factors, lead to business interruption, equipment damage (including electronic data) and thus loss of business income and property assets.

The ratings are determined based on age of the building, location, amenities, current tenants and rent pricing. 

Newer building are considered “Class A”.  These comprise newer construction, excellent maintenance and presentation. 

The majority of commercial buildings fall into “Class B”. Generally older construction although well maintained.  Along with some restoration and remodeling work they are considered a value-added property.

“Class C” commercial is the lowest tier with significantly older buildings in the least desirable locations perhaps needing extensive renovation.  Business and tenant occupancy in these properties also tend to be lower.

Following this guide, SERVPRO of North Shasta, Trinity & Greater Tehama Counties recognizes that most loss and thus need for fire and water damage restoration services, in fact, occur beginning at “Class C”. 

SERVPRO’s Emergency READY Profile® (ERP) is a free value-added addition we provide to every level of a commercial property owner’s overall contingency plan.  However, where property loss is considered greater in “Class B and C” the ERP takes on special significance by outlining in great detail shut-off valve locations, priority response areas and first-responder contact information clearly setting an immediate plan of action in place with a local SERVPRO Franchise Professional as their disaster mitigation and restoration provider “Ready for whatever happens”.

Evaluating the components of a loss are fact-intensive with much of commercial coverage determined by the period of business interruption and the length of restoration.  Pre-loss mitigation plans, such as SERVPRO’s Emergency Ready Plan mentioned above, identify and coordinate external professional resources, including an emergency restoration company capable of responding within hours of a loss at all loss sites. Commercial organizations which have prior agreements with trusted restoration partners in place are first in line for assistance and, consequently, among the first to re-establish operations and limit their business-interruption losses.

Get The SERVPRO Emergency READY Profile Mobile App (Download for Apple iOS or Android devices)

Make SERVPRO of North Shasta, Trinity & Greater Tehama Counties your trusted partner. 

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