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An insurance policy may or may not cover the costs associated with water damage and the process of water damage restoration. While a common cause of residential water damage is often the failure of a sump pump, many homeowner's insurance policies do not cover the associated costs without an addendum which adds to the monthly premium of the policy.
The company sold its 1,000th franchise in 2000. To accommodate their growth, the Servpro headquarters moved to a facility of 140,000 square feet (13,000 m 2) in 2005, which was expanded to 200,000 square feet (19,000 m 2) in 2014. The Tennessean has listed Servpro as one of Tennessee's top workplaces eight times since 2015, including 2024. [8]
Business interruption insurance (also known as business income insurance) is a type of insurance that covers the loss of income that a business suffers after a disaster.The income loss covered may be due to disaster-related closing of the business facility or due to the rebuilding process after a disaster.
Even though only partially sunk in shallow water, in 2012 the relatively new cruise liner Costa Concordia was declared a "constructive total loss" due to escalating environmental and salvage clean-up costs. In insurance claims, a total loss or write-off is a situation where the lost value, repair cost or salvage cost of a damaged property ...
Flood insurance is the specific insurance coverage issued against property loss from flooding. To determine risk factors for specific properties, insurers will often refer to topographical maps that denote lowlands , floodplains and other areas that are susceptible to flooding.
If and when a peril occurs and causes damage to your property, you may file a claim with your home insurance provider to help cover the repairs. A standard homeowners insurance policy lists the ...
The term replacement cost or replacement value refers to the amount that an entity would have to pay to replace an asset at the present time, according to its current worth. [1] In the insurance industry, "replacement cost" or "replacement cost value" is one of several methods of determining the value of an insured item. Replacement cost is the ...
Business interruption insurance provides up to 12 months’ income for covered businesses when they are forced to shut down operations because of a covered property event. The liability portion of a business owner's policy offers coverage for third parties who suffer property damage , advertising injury or personal injury on a covered business ...
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