Navigating Commercial Flood Damage in New London 

5/7/2024 (Permalink)

With advanced equipment, SERVPRO restores property to pre-damaged conditions. "Like near even happened."

Restoration Costs and Strategies for Business Resilience 

New London, Connecticut, is a historic seaport city along the shores of the Thames River. New London is known for its thriving art scene, rich maritime history, diverse architecture, and as the home of the United States Coast Guard Academy. It serves as a gateway to the eastern part of the state, boasting a lively waterfront and cultural activities. The area has seen its fair share of flooding, significantly impacting local businesses. Our SERVPRO® team understands the direct and indirect costs of these events and wants business owners to know that advanced preparation is crucial for any commercial entity in this region.  

Direct Costs of Flood Damage 

When commercial flood damage hits in New London, the immediate financial burdens can be substantial: 

• Property Damage: Water damage to buildings and infrastructure requires extensive repairs or complete rebuilding. 
• Equipment Loss: Critical business equipment can be damaged or destroyed and need replacement or repair. 
• Inventory Loss: Stock and supplies can be washed away or spoiled, leading to significant replacement costs. 

Indirect Costs and Business Interruptions 

The aftermath of a flood extends beyond physical damage: 

• Business Downtime: Even minor floods can close business operations for days to weeks. 
• Loss of Revenue: No business operation means no sales, impacting financial health. 
• Customer and Client Trust: Delays and disruptions can harm long-term relationships. 

Financial Planning and Insurance 

To mitigate the financial impact of floods, businesses need robust planning, such as: 

• Comprehensive Insurance: Ensure your policy covers flood damage and business interruptions. 
• Emergency Funds: Maintain a reserve fund specifically for disaster scenarios. 

Developing a Flood Response Plan 

Preparation can significantly reduce the impact of water damage caused by a flood. Here’s how to start: 

• Emergency Contacts: Keep a list of contacts for local emergency services and restoration companies like SERVPRO of New London. 
• Data Backup: Regularly back up all critical business data to a secure, off-site location. 
• Employee Training: Conduct regular training sessions on flood response and safety protocols. 

While the threat of flood damage persists for New London businesses, proper preparation and responsive strategies can help minimize both direct and indirect costs. For immediate assistance with flood damage, call SERVPRO of New London at (860) 443-2222. We are Here to Help® 24/7.