LONG-TERM COST ADVANTAGES Insurance Savings Insurance savings for cold-formed steel The non-combustibility of steel structures gives them better loss ratings and saves money on both types of Insurance. Insurance premiums represent 5% of costs during construction (Builder’s Risk Insurance) 5% & up to 10% of the cost of long-term operation of the structure (Property Insurance) 10% Cost Comparison Insurance Savings Project Description: Hotel/Lodge 4 story, 400 unit Location Mason, OH Construction Value $120,000,000 Construction Time 24 months Builders Risk Insurance Cost Basis Comparison: Wood 0% Wood: $0.60 to $0.80/$100 Construction Value Steel 0% Cold-Formed Steel: $0.12 to $0.18/$100 Construction Value Insurance Premium Comparison: Wood 0% Cold-Formed Steel: $0.70 (average cost) x $120,000,000 x 2 years = $1,680,000 Insurance Premium Comparison: Steel 0% Cold-Formed Steel: $0.15 (average cost) x $120,000,000 x 2 years = $360,000 SAVINGS: $1,320,000 Property Insurance Cost Basis Comparison: Wood 0% Wood: $0.12 to $0.14/$100 Final Value Steel 0% Cold-Formed Steel: $0.07 to $0.08/$100 Final Value Insurance Premium Comparison: Wood 0% Wood: $0.13 (average cost) x $120,000,000 x 1 year = $156,000 Steel 0% Cold-Formed Steel: $0.075 (average cost) x $120,000,000 x 1 year = $90,000 SAVINGS: $66,000/year Over 10 years, the total cost savings would be $660,000! Let's Get Rolling! Request A Quote Edit Template