When you’re experiencing any damages on your commercial property, your business can suffer as a result. So, it’s essential to act fast and fix the damages as quickly as possible. But, of course, that can come with a fair share of costs and decision-making.
If your commercial property has been damaged by a fire, flood, natural disaster, or other events, you may be wondering how much it will cost to have the damage repaired. We want to help you prepare your budget for this unfortunate event and understand what you’ll be paying for.
So, today, we’ll explain which factors affect the cost of commercial damage restoration services, and give you some price estimates and tips for reducing restoration expenses.
What Are Restoration Services
Commercial damage restoration services are professional services that help repair and restore commercial properties damaged by various events and outside factors.
These services may include cleaning and deodorizing affected areas, repairing or replacing damaged structures and contents, and taking steps to prevent further damage. The goal is to restore the property to its pre-loss condition as much as possible, allowing the business to resume operations as quickly and smoothly as possible.
So, prompt restoration is crucial if you don’t want commercial damage to stunt your business and pause your operations. But that’s easier said than done. Restoration services can be expensive, so it takes some research and budgeting.
When Do You Need Restoration Services?
There are many circumstances when commercial damage restoration services may be needed. Some common situations when you may require restoration services include:
- After a fire: If a fire has occurred on a commercial property, restoration services may be needed to repair any damage caused by the fire and clean and deodorize the affected areas.
- After a flood: If you’ve experienced a flood on your commercial property, you might need restoration services to remove standing water, dry out the affected areas, and repair any damage caused by the flood.
- After a natural disaster: Natural disasters, such as earthquakes, hurricanes, and tornadoes, can cause significant property damage. Restoration services are required to repair any damage and restore the property to its pre-disaster condition.
- After vandalism: If a commercial property has been vandalized, restoration services will repair the damages and restore the property.
Keep in mind that these are just a few examples. Commercial damage restoration services may be required in other circumstances as well.
Factors that Affect the Restoration Services Cost
Restoration services can be expensive and depend on multiple factors. There is no universal price you can count on. Several factors can affect the cost of commercial damage restoration services. Here are the most important components that make up the final damage restoration cost.
Extent of the Damage
First and foremost, the damage restoration cost will hugely depend on the extent of the damage. The scope of the damage refers to the amount and severity of the damage that has been done to the property.
The more damage that has occurred, the more extensive and costly the restoration efforts will be. For example, if a small fire has caused minor smoke and water damage to a single room, the restoration efforts will likely be less costly than if the entire building had been engulfed in flames.
Type of Commercial Damage
There are many different types of commercial property damage your property can suffer. These are the most common examples:
- Fire, smoke and lightning damage
- Water damage (stains on your walls, mold, rotten wood, swelling of floors, etc., due to roof leaks, pipe leaks, overflowing toilets, or hailstorms)
- Flood damage
- Hurricane and wind damage (flooding, mudflow, wind damage, storm surge)
- Hail damage (cracks in the roof, broken windows, damaged gutters, etc.)
- Vandalism damage (from graffiti to more serious damage, such as breaking windows or damaging equipment)
Different types of damage may require different restoration techniques and materials. For example, commercial water damage restoration may require specialized drying equipment and techniques to prevent further damage, while fire damage may require the removal and replacement of charred materials. These specialized needs can affect the overall restoration services cost.
Size of the Property
As you’ve probably guessed, the size of the property being restored will impact the cost of the restoration efforts. Larger properties will typically require more time and resources to restore, leading to higher costs.
Location of the Property
The location of the property can impact the cost of restoration due to various factors. For example, if materials or skilled labor are in short supply in the area, this can lead to higher costs for the restoration efforts. Additionally, the cost of living in the area can affect labor costs.
Necessary Repairs and Renovations
Depending on the scope and severity of the damages, different materials, techniques and timelines will be required. If the damage requires extensive repairs or renovations, this will, of course, increase the overall damage restoration cost. For example, if a flood has caused significant damage to the walls and flooring of a commercial building, replacing these materials will add to the cost of the restoration services.
Availability of Materials and Mabor
If materials or skilled labor are in short supply, this can lead to higher costs for the restoration efforts. For example, if a natural disaster has caused widespread damage in an area, the demand for restoration services may be high, leading to increased costs due to competition for limited resources.
How Much Does Damage Restoration Cost?
The average range of costs for different types of damage can vary widely depending on all the factors we mentioned above. Some general ranges of the expenses for different types of commercial damage restoration services include:
- Flood damage: The cost of restoration can range from a few thousand dollars for minor damage to tens of thousands of dollars for more extensive damage. For example, a small flood in a single room may cost $3,000 to $5,000, while a larger flood that affects multiple rooms or floors of a building may cost $25,000 or more.
- Fire damage: The cost of fire damage restoration can also vary widely. A small fire that causes minimal damage may cost a few thousand dollars to restore, while a larger fire that engulfs a building may be $100,000 or more.
- Structural damage: For example, repairing a small crack in a foundation can cost a few thousand dollars, while more extensive structural repairs could cost tens of thousands or more.
- Vandalism: Graffiti removal may cost a few hundred dollars, while more extensive damage, such as broken windows or damaged equipment, could cost thousands of dollars to repair.
It’s important to note that these are just estimates, and the actual cost of commercial damage restoration services will depend on the specific circumstances of each case.
Tips for Reducing the Damage Restoration Cost
Nobody likes the idea of spending a small fortune on fixing property damage. Luckily, there are several steps that businesses can take to reduce the cost of commercial damage restoration services.
Prevent Damage
One of the best ways to reduce the cost of commercial damage restoration services is to prevent damage from occurring in the first place. This can be achieved through proper maintenance of the property and the implementation of precautions such as fire sprinklers and flood prevention measures.
Shop around for Competitive Quotes
It’s a good idea to get quotes from multiple damage restoration companies to ensure that you are getting the best price. Be sure to compare the services and reputation of each company to find the best fit for your needs. Don’t just settle for the first company you find.
Consider Partial Restoration or Repair
In some cases, it may be more cost-effective to perform partial restoration or repair rather than complete restoration. For example, if only a small portion of a building has been damaged, it may be more cost-effective to repair that portion rather than restore the entire building.
Act Promptly
The sooner that restoration efforts begin, the less damage is likely to occur. By acting promptly, businesses can minimize the extent of the damage and potentially reduce the overall cost of restoration.
Seek Professional Help
It’s important to seek the help of professional damage restoration experts to ensure that the job is done correctly and efficiently. While it may be tempting to try to save money by handling the restoration yourself, professional restoration companies have the experience, tools, and resources to get the job done properly. You can even seek the help of public adjusters who will handle the entire claims process and ensure you get every dime you’re owed.
File an Insurance Claim for Commercial Damage
When you’re experiencing any sort of property damage, filing an insurance claim is the best way to go. That way, you’ll get compensation for the damages, which will help you finance the necessary repairs. But filing a claim is no walk in the park, as insurance companies will often try to lowball you. Worry not – Elite Resolutions is here to help!
We’re experienced public adjusters who are here to file your insurance claim and make sure you get the exact amount you’re owed! We’ll handle the entire process; you just need to contact us – let’s work together!
If you have any additional questions, you can check out our FAQ page or schedule a free consultation.