New Study: Concrete Cheaper Than Wood in Building Insurance Costs in Edgewater, New Jersey

By The National Ready Mix Concrete Association
For Construction Pros
October 17, 2017
Category: Wood, Paper & Green Building
Region: United States, US East

A new study by Dr. Pieter VanderWerf and Nicholas Haidari of Boston College entitled “Survey of Insurance Costs for Multifamily Buildings Constructed with Wood-frame and Concrete” found building insurance rates will be lower for midrise apartment buildings constructed with concrete instead of wood‐frame. This result appears to hold for both builder’s risk and commercial property insurance and across a wide range of regions of the United States. The objective of the study, underwritten by the National Ready Mixed Concrete Association, was to collect insurance premium quotes for builder’s risk insurance (during construction) and commercial property insurance (during occupancy) for a reference building built using combustible construction (wood‐frame) and non‐combustible construction (concrete).

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