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Can You Save Money on Insurance Costs with a Metal Building?

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Published
02/21/2018

You may be questioning whether insurance will be cheaper for a steel building.  The answer to this is yes.  In fact, metal structures offer one of the best options if you are trying to stick to a small budget.  You will initially save when it comes to the initial costs of purchasing the materials for your building structure, as well as long-term value.  You’ll also be hard-pressed to notice the difference between a steel structure and a structure constructed from traditional materials – but your insurance company will!

If you choose a steel frame structure, the whole process of putting together your new building is notably faster than for those made using other materials.  Plus, fewer people will be required when erecting the metal structure.  This will help keep labour costs down, as well as any insurance cover.  You will automatically pay less for your liability insurance if you are working with a smaller construction crew. 

Steel Buildings Decrease Risk of Fire and Natural Disaster Damage

For most homeowners and business owners, fire can be a major concern.  Whilst it is important for you to have a fire action plan in the event of a fire, statistics indicate that you are much less likely to have a fire in a steel structure.  Also, the roofing and walls are not combustible.  This will help limit your structure’s losses during a fire and it also means that a fire is less likely to spread. 

Insurance companies are aware of just resist steel structures are to some of the biggest risks to both homes and businesses.  Also, as steel does not crack, rot or split unlike other building materials, the life expectancy of your building will be higher.  This will immediately lower your insurance cover as your building will be viewed as a less high-risk option than one made from materials including wood and stone. 

Flexible design options

Steel buildings have many, different costing design options, and so during the design process of your building it's quite easy to save money on insurance – obviously, if you invest in particular methods of heating and cladding for your building, you could increase/decrease the risk of fire depending on what materials you choose, which would in turn affect your insurance costs.

Nowadays, there is a wide selection of top steel building systems like Armstrong Steel. Armstrong enable you to quickly calculate the price of your custom metal building online.  This online feature will enable you to go through the different design options for your building, and therefore choose elements that will decrease your insurance.

Lower Insurance Cover

We all know that your insurance policy will fluctuate in price based on a number of contributing factors.  These can include the structure’s location, the age of the structure, risk of theft or damage and the overall value of the building.  Regardless of whether you have a replacement policy or a cash value policy, you’ll find that the rates you are given by insurance providers are lower for a metal structure.  This is mainly because this material will cost less to replace than a structure made from traditional materials like stone or wood.

Insurance providers claim that the main reasons for residential damage claim include: heavy winds, hail, fire, water and ice and snow.  Depending on the location of the building, a typical steel structure would help you manage the vast majority of these risks.

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