Steel Framing and Home Insurance
Depending on where you live, an investment in steel framing can save you money on your homeowner's insurance. Because steel framed homes are better able to withstand high wind loads, steel framed homes are often eligible for special discounts.
Typical discounts include a reduction in premiums associated with storm damage. This is especially applicable to people living in areas prone to damage from severe storms, tornados and hurricanes. Discounts also apply to people living in remote areas.
Note that insurance discounts may not be automatically applied: your insurance agent typically will not know how your house has been built unless you say something. It's up to you to ask your agent and make sure that you are getting applicable discounts: your agent should have all of the information that you need in order to understand and take advantage of these types of discounts.
Having a steel framed home may affect your homeowner's insurance. But how much and why? Here's a list of questions you might want to consider asking your insurance agent.
- Will I have to pay higher insurance premiums for my homeowner's insurance?
- Is there a special homeowner's insurance policy designed for people who are building a steel framed home?
- Do you currently have any policyholders whose homes are built with steel frames? Did they have any additional savings on their insurance premiums?
- Are there any building specifications that insurance companies require in order to be properly insured?