Case Study: How Proper Insurance Coverage Saved Petrie Real Estate After a Devastating Fire

Client Profile

Company: Petrie Real Estate
Industry: Real Estate Services
Challenge: Major fire damage to commercial premises
BICS Service: Commercial Property Insurance & Claims Management

My Whole World Just Stopped

 "I opened up my phone and the first thing that appeared was this Facebook post that said that the fish and chip shop (near my office) was on fire and my whole world just stopped."

In May of 2024, Kimberly, principal of Petrie Real Estate faced every business owner's nightmare. A fire that started in a bakery neighbouring their office quickly spread through the entire commercial complex, causing extensive smoke and structural damage to their premises.

The moment she learned about the fire, was when she saw a post on Facebook. 

BICS Partnership

The relationship between BICS and Petrie Real Estate began with a typical process of seeking updated insurance coverage for a growing business. After BICS provided competitive quotes that offered superior coverage, Petrie Real Estate made the switch.

This decision proved to be business-saving when disaster struck.

BICS in Action - Crisis Response

"I saw the impact of the people who didn't have insurance in the complex... I feel blessed that you had us so well insured that I didn't have the issues that everybody else had." 

When the fire occurred, Kimberly's next call after speaking with emergency services was to Aaron at BICS. 

The response was immediate and comprehensive:

• Immediate Support: BICS took control of the entire claims process
  
• Professional Coordination: Organised cleaning crews and restoration services
  
• Business Continuity: Allowed Kimberly to focus on relocating her business while BICS handled everything to do with the claim
  
• Complete Coverage: Ensured all damage was properly assessed and covered
  

Insured vs. Uninsured

The fire revealed a harsh reality about the importance of proper commercial insurance. While Petrie Real Estate was able to focus on adapting their business operations, other businesses in the complex that had inadequate or missing insurance coverage had compounding issues that impacted their ability to continue operating.

As Kimberly observed: "There were people in here cleaning in the week that ensued after the thing. And they were all like, well, why aren't you doing it? Because I have an insurance company and my broker has organised everything for me and I don't have to do a thing!"

Back in Business and Better Than Before

"When people walk up to our office, it looks professional now. And I'm really excited by that... it was a really nice step forward for our business as a professional business." 

Not only did BICS ensure Petrie Real Estate was fully restored, but the comprehensive coverage allowed them to redesign and upgrade their office space:

• Modern Professional Design: New layout with beautiful arches and contemporary finishes
  
• Enhanced Business Image: A more professional appearance that impresses clients
  
• Strategic Improvement: The renovation positioned the business for future growth
  

The BICS Factor

1. Comprehensive Coverage

We ensured Petrie Real Estate had the right level of coverage before they needed it.

2. Expert Claims Management

When the crisis hit, we took complete control of the claims process, removing stress from the business owner.

3. Ongoing Partnership

Our relationship with our clients is far beyond just selling a policy - we pride ourselves on being your trusted advisor during the most challenging time.

4. Business Continuity Focus

By handling all insurance-related matters, our support allowed Kimberly to focus on what matters most – keeping her business running at a time that was anything but ‘business as usual’.

Commercial Insurance: Investment or Expense?

"I think it's crazy as a business not to have proper insurance for your business because it could have gone any number of 100 ways."

Proper commercial insurance is often viewed as just another business expense - especially when operations are running smoothly and crises feel like distant possibilities. But here's the reality: when disaster strikes, the right coverage transforms from a cost center into your business's lifeline.

The difference between surviving and thriving through a crisis often comes down to two things: having the right insurance coverage and having expert support when you need it most.

While many businesses without adequate coverage struggled to rebuild - some never reopening their doors - Petrie Real Estate had a different story. Backed by our team of specialists at BICS, they didn't just survive the aftermath of the fire; they emerged stronger than before.

What made the difference? Comprehensive coverage designed for their specific risks, combined with expert broker support that guided them through every step of the claims process and recovery planning.

Your business deserves the same level of protection and support that helped Petrie Real Estate turn crisis into opportunity.

Ready to invest in your business's resilience and future growth? Let's discuss how proper commercial insurance can protect everything you've built.