When planning a new commercial building, there are a lot of decisions to make that can affect how much your insurance will end up being. For example, the type of material you construct your commercial building out of. If you choose a metal building, you’ll find that the insurance costs for these structures are generally lower than those of traditional buildings.
The main reason for this is that commercial metal buildings are more impervious to most of the leading causes of property damage. With that in mind, the following guide explains exactly why insurance companies view commercial metal buildings as less of an insurance risk.
Lower Risks for Worker Injury Lead to Lower Costs During Construction
During construction, metal commercial buildings are much less dangerous for workers to build than traditional buildings. For example, if you’re building a wooden structure, the chances of worker injury due to falling debris or support beams are much higher than with metal buildings. This is because metal buildings are constructed using much lighter materials that can be quickly assembled without the need for heavy machinery.
Additionally, many metal buildings are prefabricated, meaning that they come as a kit that can be easily assembled on-site. This reduces the risk of worker injury because they require less labor and time to put together.
Lower Risks for Damage Lead to Lower Insurance Coverage Costs
Metal commercial buildings are less vulnerable to certain types of damage than traditional buildings. This can mean lower insurance premiums for metal structures because they are more resistant to things like fire, water, and wind damage.
For example, steel buildings are non-combustible, meaning that a fire won’t be able to burn through the walls and destroy the entire building as it might in a wood structure. In addition, metal buildings are much more resistant to high winds than traditional buildings because of their strong framework and lack of exposed edges or joints where wind can get trapped.
Finally, metal buildings are damage resistant to things like mold, mildew, and termites, all of which can cause significant damage to traditional buildings.
Improved Impact Resistance
Another factor that contributes to the low insurance premiums associated with commercial metal buildings is their high level of impact resistance. They can handle the force of hail and storms without experiencing significant damage. Additionally, metal buildings don’t typically lose resistance over time the way buildings constructed out of other materials do.
Decreased Risks of Fire and Weather Damage
Insurance companies don’t just factor in the actual construction of the building being insured — they’ll also consider the environment in which it’s being built. As such, a building constructed in an area that’s vulnerable to certain weather conditions will cost more to insure. However, metal buildings are much more resistant to damage from storms than traditional structures, which can lead to cost savings in terms of insurance.
For example, strong winds and heavy rains can cause significant damage to wooden structures, but metal buildings are often able to withstand the brunt of the storm with minimal damage as a result of their strength and durability. In addition, metal structures are generally much less vulnerable to fire than other types of buildings due to their non-combustible nature.
Why a Fire-Resistant Metal Building Costs Less to Insure
Metal buildings are known for their fire-resistant qualities. One of the reasons why insurers offer lower rates for these structures is that they are much less likely to suffer significant damage from a fire and require costly repairs or replacement. Fire risks are a massive liability for an insurer because fires can happen relatively quickly and cause a lot of damage in a short amount of time.
Fires can occur in any environment. Not only can a building burn down as a result of wildfires, but they can also burn down due to acts of vandalism, electrical malfunctions, faulty wiring, or human error involving flammable materials or equipment being housed in the building. As a result, the more fire-resistant a building is, the lower its insurance premiums will be.
Can You Lower Your Commercial Metal Building Insurance Rates?
Insurance can be expensive, especially if you plan to construct your building in an environment that’s prone to volatile weather conditions or if your business involves storing, manufacturing, or selling items that could pose a potential risk.
Fortunately, there are ways that you can lower your insurance premiums. For example, in addition to using a prefabricated metal building that’s more resistant to damage, you can also invest in additional safety and security measures such as security systems, fire sprinklers, or smoke alarms to further reduce the risk of property damage.
Why Buy from Future Buildings
At Future Buildings, we understand how important it is for businesses to have reliable and affordable insurance coverage. That’s why we offer high-quality prefabricated commercial metal buildings that are designed to meet the highest standards of quality and safety. Our commercial metal building kits are manufactured using the highest quality steel materials and are designed to stand the test of time.
Additionally, our buildings come with step-by-step instructions that make it easy to assemble on-site, reducing labor costs and the risk of injury during construction. For more information, contact us online at Future Buildings or call us at 1-800-668-5111 to speak with one of our building specialists today.