You’ve probably seen on the news
lately that another condo building burned to the ground. This is an
alarming trend that’s worth learning more about, which is why we’ve put
together some helpful information to help prevent your building from
going up in flames.
Fires trending up, buildings going down
There are a few factors that are contributing to this trend:
Construction and renovation hazards
Oftentimes these fires are occurring during construction, before the sprinkler systems are installed and with so much hot work (think: welding) going on and flammable materials all over the place
No sentries guarding the castle
It’s a good idea to have an on-site watch service to be on the lookout for fire so they can call authorities immediately if the worst happens.
Higher wood-framed buildings
If you learned anything from the “Three Little Pigs” story as a child, it’s that brick buildings are a lot more stable than wood. Obviously, wood-framed buildings are a lot more vulnerable to fires. Or, you know, the big bad wolf.
Okay, now tell me the good news
Condo associations can be a very profitable investment if done well. Here are a couple indicators of a quality property investment:
Local property managers committed to making upgrades to roofing, electrical, plumbing, and heating systems
Approved automatic sprinkler and fire alarm systems supervised by the fire department or central station
High owner occupancy rate and strict rules regarding heat maintenance during absentee winter months
Newer construction designed for condominiums instead of converted buildings
Strong contracts in place with reliable landscaping and snowplowing companies
How can Arbella help me?
We’re glad you asked! We’ve spent quite a bit of time to get our pricing and coverages to be *just right* for local, small business and property owners. Our stellar loss control team can help limit your exposure to risk and our underwriters know this market very well.
If you’re a building owner, call your Arbella independent agent today to make sure you’ve got the right pricing and coverages. Just because other buildings are going up in flames, doesn’t mean yours has to follow that trend!