Latest update August 1st, 2020 5:03 PM
4 Compelling Financial Reasons To Install Fire Protection
Installing a reliable fire protection system is an important investment in employee safety and property protection. In addition to these two top priorities, it can also help bring about four financial outcomes that many businesses are looking for.
1. Lower Insurance Costs
Insurance companies have done the research on the effectiveness of modern sprinkler systems for businesses. When considering fire sprinkler installation California, you might want to contact your agent to find out about fire protection discounts. You could be surprised how quickly the system pays for itself through premium savings.
2. A New Tax Deduction
Your business may end up with a lower federal income tax bill depending on how you finance fire sprinkler installation. In many cases, interest on a loan taken out to retrofit for fire sprinkler installation is deductible from income.
3. Reduced Liability Exposure
In the aftermath of a fire that leads to injury or loss of life, the legal system has tended to take a pretty harsh view of building owners who do not have a sprinkler system. Recent court rulings have held that fire suppression sprinklers are something tenants or customers in a business should reasonably expect — even in jurisdictions where sprinklers are not required. The financial damages related to fire injuries and deaths can run into the millions of dollars.
4. Protection Against Total Business Shutdown
A sprinkler system can help keep the doors to your business open after a fire. Without sprinklers, the scope of damage produced by almost any blaze will likely be extensive, possibly leading to lost rent or blown business opportunities. Sprinkler sensors can limit the water damage to the area of the fire. You aren’t likely to get the same pinpoint response from the fire brigade.
At first glance, installing a sprinkler system may seem pricy. In the end, however, the cost of not having one could be a lot higher.
