07
Aug
Maximizing Fire Safety and Insurance Savings
A recent fire in Vancouver’s Dunbar area destroyed one home and damaged several others. Wooden buildings are more susceptible to fire, leading to higher risks and insurance costs.
Steel Remains Non-Combustible Throughout the Entire Lifecycle of Your Building—From Construction and Occupancy to Future Renovations.
Steel contains no elements that can ignite, spread, or accelerate a fire. In terms of fire safety, steel is unmatched, outperforming traditional wood materials. Unlike wood, steel doesn’t burn or contribute to fires, which translates to significant savings on insurance premiums and greater peace of mind.
Lower Risk, Lower Insurance Costs
As more and more of these devastating fires occur to wood structures there are fewer underwriters who will provide insurance. Insurance savings between a wood frame building and a non-combustible LBS building can be between 25% and 75%. When the costs for insurance is 5% of your budget during construction and up to 10% of your long-term operational costs, this savings can add up considerably over time.
With every fire – wood frame insurance rates will not get any better.
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