Home News Main What’s The Cost Of Fire Damage For Businesses?

What’s The Cost Of Fire Damage For Businesses?

Fire not only tears through buildings leaving devastation in its wake, but it can also have a huge impact on people’s lives. This is because when a building is destroyed, such as an office building, for instance, it can have a knock-on effect. Not only has the building itself been destroyed, but also the livelihoods of various people.

The grim reality of fire damage (along with the water damage that comes with it) is that not only does it destroy buildings, but that it also makes it impossible for companies to trade. Regardless of how quickly the fire is put out or the fire protection products that the firefighters use to contain it, there are no guarantees that the damage caused by the fire will be able to be limited to a small area. In fact, more often than not, fires end up destroying entire buildings, as they can be incredibly difficult to get under control.

The question is, what’s the true cost of fire damage and how can businesses prevent fires?

What’s the impact of fire damage on businesses?

If a building is damaged by fire, the chances are that the business won’t be able to operate for a while. This may be for a few days, or it could be for months, but either way it can cause major problems for the company. Every day that the business isn’t able to run, money is being lost.

Depending on how severe the fire was, the building may need to be rebuilt. If the business has adequate insurance cover, this isn’t an issue. However, it could take months or even years to be rebuilt, depending on the ins and outs of the project. If the building is rented, the best option may be to find a new office building. However, if the business owns the property, this may not be possible.

You can’t expect your employees to wait around for your business to reopen. So, unless you’re able to pay them while your building is rebuilt, you could end up losing your employees to other local businesses. This could make rebuilding your business even harder. As you’ll need to take the time to recruit new team members for your relaunch.

How can businesses avoid fires?

Not all fires can be prevented. However, the majority of fires can be. The most common cause of office fires is electrical problems. So, it’s important to proactively prevent electrical fires in your office by monitoring your equipment and having any issues dealt with immediately. It’s also crucial to pat test each and every item in your office on a regular basis, to ensure that they are safe to use.

Although having fire alarms in place won’t prevent a fire from starting, they will ensure that you will be alerted as soon as possible. This is important, as the sooner a fire is detected, the more chance of it being put out with minimal damage to the building and equipment.

To make it easier for any fires to be got under control, consider having a sprinkler system installed in the ceiling of your business premises. These can be linked up to your fire alarm system, so that should the alarm go off, it will set off the sprinkler systems as well.

So there you have it, a guide to the cost of fire damage to businesses, as well as tips for best methods of preventing fires.

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