Brian Flowers · Published 8 Feb 2023

Is Insurance Cheaper for a Steel Building?

Let’s be honest, property insurance can be quite costly! And regardless of how you look at it, that reality is likely to worsen. Due to recent events such as climate change and natural disasters, property insurance rates are anticipated to surge by 12%-30% in the next year. While there may not be much you can do to avoid higher insurance premiums, choosing a steel construction can certainly alleviate some of the burden.

If you’re looking to build a garage, barn, or some other type of structure, selecting a steel building rather than conventional alternatives can result in significant savings in insurance expenditures. But what is the reason for this? What distinguishes metal structures from wood and makes them less expensive to insure?

Reduced Risks of Damage Lead to Lower Insurance Costs

Insurance rates vary based on several factors, including the building’s location, age, risk of theft or damage, and value. Whether you have a cash value or replacement policy, you’ll find that rates for a steel structure are lower. Why? Simply put, steel buildings cost less to replace than those made of wood or stone and pose a much lower risk of ordinary damage.

According to insurance experts, the most common reasons for residential damage claims are:

Hail
Strong winds
Water
Fire
Ice and snow loads

Additionally, termite damage costs homeowners an average of $3,000 per year. These costs may or may not impact insurance rates, depending on the type of policy you have. When you consider the main dangers that typical Georgia structures face, it becomes clear that building with steel can help manage many of those risks.

Impact Resistance Testing of Metal Roofs

Metal roofs are subjected to rigorous resistance testing to guarantee their durability and strength, especially in areas prone to hailstorms. These tests ensure that metal roofs can withstand hailstones without sustaining dents or other forms of damage that could harm other parts of a building. Unlike other roofing materials, metal roofs maintain their durability and resistance over time. With a metal roof, you can be confident that it will not only look great but also perform well for several decades.

SteelCo Buildings utilizes top-grade commercial steel that is built to endure powerful winds. If you live in a location that is susceptible to severe weather patterns, we can collaborate with you to guarantee that your building is fortified to resist any potential damage.

Additionally, our buildings are resistant to water damage. Unlike wooden structures or low-grade steel beams, our materials won’t rot in excessively moist conditions. You won’t have to worry about dangerous mold taking over your structure either. And because you’re dealing with a metal roof, you’ll have fewer concerns about water leaks during storms.

Reduced Risks of Fire and Natural Disaster Damage

Most homeowners and business owners worry about fires, and it’s crucial to ensure that you have the appropriate smoke detectors and fire extinguishers in place. Also, your family or employees must have a plan to get to safety if a fire breaks out indoors.

That said, statistics show that fires are much less likely to occur in a steel building, and the walls and roofing of your structure are not combustible. This limits your building’s losses during a fire and makes it much less likely for a fire to spread.

Finally, there’s snow and ice. In Georgia, this is not a major concern for obvious reasons. When there is frozen precipitation, it’s rarely enough to remain on the roof, let alone create load concerns.

However, what if you plan to construct your building in different locations? Not to worry, SteelCo structures are designed to endure even the harshest weather conditions. For any specific concerns or queries, feel free to consult one of our knowledgeable experts.

Contact Us to Learn About the Additional Benefits of Steel Buildings

To learn more about the perks and other benefits of constructing with steel, contact SteelCo Buildings today. We design and build pre-engineered steel buildings that are the highest quality. Our commitment to excellent customer service means you can count on having a custom steel building that will last for many years. From garages and workshops to horse arenas and aircraft hangars, we offer a wide selection of building options to choose from.

If you’re interested in having a custom steel building made for your property, contact SteelCo to get more information. We can assist you with designing a steel building that fits your needs, whether you need a commercial, recreational, or industrial building.