Commercial Business Fire Damage

9/27/2022 (Permalink)

The premiums for a bar, garage or a conventional office building may vary widely based on the difference in fire risk levels. Businesses that use hazardous or flammable equipment may have higher insurance premiums. These operations may involve

• Alcohol
• Chemicals
• Cooking equipment
• Smoking
• Vehicles 

Structural Components - A building made of combustible materials such as wood may pose a greater fire risk than a structure that is built out of fire-resistant materials. Owners should consider the risk of fire in the primary structure in addition to any additions or modifications. The degree to which building materials may succumb to fire and the distance of a business from the nearest fire station may drive up the cost of a commercial insurance policy. Fire Safety Equipment - It is also crucial that a business be equipped with fire safety equipment. This may include

• Alarms and detectors
• Fire extinguishers
• Sprinklers

Some regional building codes require hardwired fire alarms. These systems should also have a battery backup in case of power failure. Battery-powered smoke detectors should also be regularly tested and the batteries should be changed. Have fire suppression systems and equipment such as extinguishers periodically inspected to ensure that critical components will function in the event of a fire. All of these factors may impact the costs of commercial insurance coverage for a business located in Birmingham, AL. A business owner may want to compare commercial policies to find the right level of coverage for fire damage.