Are you a property owner looking for ways to minimize risks and lower your insurance premium? Now is the perfect time to invest in eco-friendly features like green roofs and living walls that offer just that!
At Eco Brooklyn, we specialize in designing green spaces that offer tangible benefits for businesses, be it increased property value or reduced operational costs. In this post, we shall investigate how living walls can lower insurance premiums and why insurance companies are starting to recognize them as smart investments.
1. Reduced Risk of Weather Damage
Green roofs and living walls reduce the consequences of extreme weather brought on by climate change. Insurers tend to assess a property’s resilience against weather conditions when setting premiums. Buildings that can handle these challenges often result in lower insurance costs.
Flood Risk Reduction
Flooding from heavy rainfall is a significant concern for many properties. Green roofs and living walls help manage this risk by absorbing rainwater and reducing the strain on drainage systems.
Fire Resistance
Fires remain a serious risk to property owners. Living walls designed with fire-resistant plants and materials, can help prevent fires from spreading. Certain plants, like succulents, are naturally fire-resistant and act as barriers against flames.
2. Lower Energy Costs for Lower Insurance Premiums
Green roofs and living walls also improve energy efficiency by acting as natural insulators, keeping buildings cooler in summer and warmer in winter. Reducing energy consumption decreases the likelihood of damage from temperature extremes, which in turn lowers insurance premiums.
3. Longer Lifespan and Fewer Repairs
Green roofs and living walls extend the lifespan of a building by protecting it from harsh elements. Studies show that green roofs can significantly increase the lifespan of roofing materials [1]. This is because green roofs act as a buffer, preventing roofing materials from degrading due to UV exposure and extreme weather.
Outdoor living walls also protect the building’s exterior from wind, rain, and temperature changes, reducing wear and tear. Fewer repairs and less damage over time mean lower risk for insurers. Buildings that require less maintenance are viewed as safer investments, which often results in lower premiums.
Conclusion: Choose Living Walls as a Smart Investment
Many insurance companies now offer discounts to property owners who invest in green design. The Insurance Institute for Business & Home Safety (IBHS) has acknowledged that resilient properties are less likely to experience significant damage from extreme weather events [2]. As a result, insurers are offering incentives to encourage businesses to incorporate features like green roofs and living walls. Overall, the insurance industry is recognizing the value of sustainable design, and businesses that invest in these solutions benefit from both cost savings and enhanced property value.
Eco Brooklyn is here to assist companies in designing resilient, sustainable buildings that save money while simultaneously preserving the environment. To find out how our products can lower your insurance premiums and raise the long-term value of your property, get in touch with us right now.
References
[1] Rasul, M. G., & Arutla, L. K. R. (2020). Environmental impact assessment of green roofs using life cycle assessment. Energy Reports, 6(1), 503-508. https://doi.org/10.1016/j.egyr.2019.09.015
[2] Insurance Institute for Business & Home Safety (IBHS). (n.d.). Resilient construction standards. Retrieved from https://ibhs.org/ibhs-news-releases/ibhs-releases-updated-resilient-construction-standards/