In the past 10 years, the average monthly cost of insurance for a commercial building in the United States nearly doubled from $1,558 in 2013 to $2,726 in 2023. At an 8.7% compound annual growth rate, the cost could increase to $4,890 by 2030. 28 billion-dollar extreme weather events have contributed to this staggering increase. What most property owners don’t realize is that proactive roof maintenance is a fast and effective way to keep costs low.
The more insurance claims you file, the more likely your rates are to increase. With preventive maintenance measures, you can prevent incidents such as water damage, electrical fires and slip-and-fall injuries that would otherwise activate claims. Asset care and risk management can also decrease wear-and-tear-related claims.
Life cycle roof management programs through companies like Kato Roofing help building owners and managers defend against both natural and industrial hazards. The program for buildings in the Midwest includes annual inspections, drain cleaning, snow and ice dam removal, heat tape installation and risk mitigation. By spending as little as $2,000 to $3,000 annually on a preventative maintenance program, $100,000 to $200,000 can be saved throughout your roof’s lifetime.
Source: Kato Roofing