Lower Insurance Costs for Steel Buildings

One of the ways that steel buildings save money for their owners is in the form of lower insurance premiums. While it’s not a 100% foolproof statement, the owners of metal buildings generally enjoy lower insurance rates for a number of reasons, including the fact that steel is relatively resistant to fire and damage from pests. In addition, because they meet at least the minimum safety standards in your geographical area, they’re less likely to be severely damaged by various weather events, and are even less likely to be damaged by pests like termites.

Even though your steel building is already likely to get lower insurance rates than other types of structures, there are a number of things you can do to reduce your insurance premiums even further. Some of them can be added on as an aftermarket modification to your new metal building. Others should be worked out in advance with your steel buildings manufacturer.

Exceed the Local Standards

Every geographic area has minimum building standards that every construction project must meet. Many of these standards exist to provide a minimum safety level for building occupants and neighboring properties. The standards will include the amount of weight the building can bear under different circumstances, as well as fireproofing requirements and locations for exits, ventilation and other structural elements. Steel buildings that exceed local safety standards are often eligible for lower premium rates because they are even safer from weather events, fire and other hazards.

Add Fireproofing Agents

Metal buildings are already classified as non-combustible, qualifying them for lower insurance premiums than those offered to owners of wood-frame buildings. You can make them even safer from fire by opting for fire-resistant coating or spray on the building panels and supports and choosing paints that retard the spread of fire rather than feeding it. The result will be even lower insurance premiums that reflect the extra safety factors you’ve built into your structure.

Choose Burglar-Proof Doors and Windows

Part of your insurance premium goes to protecting you from the effects of vandals and burglars. One way to reduce your premium is to reduce the risk of burglars or vandals gaining entry to your property. The site where you locate your steel building will account for part of that, but you can also reduce insurance costs by burglar-proof steel doors and high-quality windows with burglar-resistant features.

Steel buildings nearly always qualify for lower insurance premiums than structures made from other materials. The choices you make in the construction phase can lower your insurance costs even further.