Concrete Masonry Saves Homeowners 50% on Insurance Costs

For architects, homebuyers and residential or commercial contractors, these skyrocketing lumber prices are adding thousands of dollars to the cost of a new home. The industry must now look at alternatives to wood-frame construction that are not only less expensive to build, but also result in more resilient houses that are far cheaper to insure.

The Southeast Masonry Concrete Association (SCMA) released a May 2021 study of construction costs in Charlotte, N.C., finding that concrete masonry units were 5 percent cheaper than conventional wood framing or light gage steel framing. A study of costs in Atlanta found similar results with concrete masonry units coming in 6 percent cheaper than wood or light gage steel framing.

In addition, insurance actuaries recently changed how they calculate the cost of building risk insurance from a percentage of construction costs to a more thorough examination of risks associated with various building materials. The result is huge savings on both building risk insurance and property insurance with concrete masonry.

Insurance cost studies in Charlotte and Atlanta found that Builders Risk Insurance went down more than 50% with concrete masonry. The studies also found that Actual Property Insurance is 2.5 to 3 times cheaper for concrete masonry units compared to wood-framing.

Given the resiliency of concrete masonry construction, this makes perfect sense. As noted in the cost studies, “Materials like concrete masonry, precast concrete, and cast-in-place concrete have many other advantages beyond their inherent fire performance including resistance to mold growth, resistance to damage from vandalism, and minimal damage caused by water and fire in the event of a fire in the building.”

Concrete masonry creates elegant, attractive homes that can stand up to extreme weather events and other hazards. If you want to learn more about the many benefits of concrete masonry, contact us today!