- Anyone who owns property knows how important it is to protect it. The property, regardless of its nature, deserves to be protected and maintained. Damage and vandalism of private property are punishable. Property damage can take many forms, including wilful damage, misuse, disfigurement, alteration of another person’s property and threats of property destruction, natural disasters and so on. The intentional financial loss is punishable under the area of professional negligence.
- An industry that suffers tremendous losses from this type of damage is the hotel industry. People who damage hotel property often imagine it’s a joke, while others are the result of a confrontation that gets out of hand. For whatever reason, if caught, they are usually required to pay damages or are charged with the breach. To reduce these cases, companies need to register all cases of damage to their properties and take note of the authors. This information is useful to prevent them from doing it again.
- Some security companies provide companies with a database that they can use to store and share this information. The database may be used as a secure storage device to store information about property damage for the purposes of asset valuation and security. The database facilitates the exchange of information between stakeholders and law enforcement agencies, thus helping to protect the industry. The vault allows companies to exchange and acquire information about people who have caused property damage in the past.
- In addition to intentional property damage, damage caused by natural phenomena such as floods, tornadoes, heavy rain and hurricanes is also recorded. Although there are limited opportunities to protect property from natural disasters, certain measures can be taken to mitigate the loss. The insurance policy is a way to protect property from the natural disaster. The databases used by security companies can also be used by insurance companies to speed up the processing of their customers’ claims using the company’s security vault.
- Property damage is often expensive, but unfortunately, most companies have to deal with it regularly due to lack of information about the perpetrators. Security companies empower communities and businesses that need to address this type of situation by providing a platform for exchanging information and supporting relevant documents such as insurance coverage for faster compensation.
- Protect your hotel in seconds from expensive and destructive guests. Hotels can work together and use our Vault to access information about guests who have damaged the property during their stay or guests who have been involved in unwanted activities. Bad guests can cost your business a lot of money and become a huge headache that might have given you something to avoid if you were aware of the professional negligence.
- If unfortunately, your hotel has had a bad experience with a guest, you can enter that guest’s information with a detailed description of the events in the system. Other hotels can reference potential guests and refuse service if needed. People who have disrespected their property will not be able to do so when the hotels work together. Preventive measures save you money in the long run.