Common Business Losses From Water Damage

1/29/2020 (Permalink)

Ceiling gave in leading to water damage in local business in Ogden, UT.

A business in Ogden, UT, may suffer a number of losses after sustaining water damage, which can be caused by accidents or maintenance issues, or a combination of both of these factors. Damaged pipes can lead to flooding, or an improperly maintained fire sprinkler system can discharge water when no fire is present. Here are some common business losses associated with this type of issue.

3 Common Business Losses Due To Water Damage

1. Building Structure

Depending on the location of any destruction, the building structure itself may be affected. Walls or flooring may need to be torn out and replaced. A leaking roof can cause damage to the ceiling, and both the roof and ceiling may need to be repaired.

Demolition may also be required simply to access the source of the water. Any sort of activity of this type may result in additional expenses.

2. Assets

Leaking pipes in the walls or ceilings of your building can cause damage to business assets. These items may include essential equipment, furniture, or even inventory. Flooding is not even necessary to incur harm of business assets, as even small amounts of water can contribute to significant losses.

Damaged pipes can also lead to the malfunction or destruction of essential building systems. Your business will then need to repair or replace these systems, such as your fire sprinklers, electrical equipment, or plumbing components.

3. Business Revenue

While your business is preoccupied with repairing water damage, revenue opportunities are passing you by. Problems such as these divert both attention and funds from business development and marketing. It may be difficult to quantify lost business revenue, but it can still be quite significant.

Regardless of the causes of the problem or the extent of the water damage repairs required, business losses can range from minor to catastrophic. Whether damaged pipes resulted in a plumbing leak that was confined to a bathroom, or a broken water main let loose a flood of water through your entire operations center, every business must plan for the inevitable losses that will follow.