If you’re interested in getting EPS insurance then you may have heard about how difficult it can be to get your property properly assessed. Indeed, many insurance companies and brokers avoid EPS insurance altogether. This is because the process of insuring EPS can be very time consuming, expensive. During recent years the number of EPS related fires has risen and alongside it so have insurance premiums.
The fires are due to the extremely flammable nature of EPS. Polystyrene foam vaporises quickly when exposed to heat and once ignition begins it will spread quickly. This rapidly spreading fire will ruin the structural integrity of the panels and this will lead to a weakening the buildings structural frame. Within a few minutes an EPS fire can quickly spread out of control and eventually cause the collapse of a building.
Here is a list of a few things you can do to avoid rising insurance premiums and keep your premises safe from an EPS related danger.
Sprinklers are an essential foundation for any kind of fire safety but they can be especially useful and important if your property contains EPS paneling. Sprinklers may greatly reduce the risk of fire spreading. EPS specific sprinklers are available on the market and are worth the extra investment as they target hard to reach spots.
2. Good housekeeping
Everyone knows housekeeping is important but most people don’t realise that it can make insuring property easier and cheaper. Housekeeping, including waste removal and cleaning equipment, can help reduce the risk of fire. Clutter is extremely flammable and can make it very difficult for firefighters to attend and access different sections of the property. By keeping everything tidy and well maintained it can help insurers lower premiums.
3. Check tenants and business activities of premise
An easy way to assure your insurance broker that you are serious about preventing EPS related hazards is to check and report on any tenants or business activities inside your premises. For example, tenants or businesses that may present a serious fire risk, like a welder or electrician, will cause premiums to go up. Conferring with your insurer to let them know which activities take place at your property will help them to assess the level of insurance coverage required.
4. Thermal imaging
Thermal imaging is also a great way to assess the current situation to keep yourself and the property safe. EPS is usually hidden behind walls and plaster and it can be difficult to gauge if there have been any changes in surface temperature or if there are any faults in nearby electrical outlets. Thermal imaging is a noninvasive technique that allows you to examine any changes in temperature and locate any faulty outlets.
5. Remove Heat Sources
Make sure to keep sources of heat away from the insulation material. Electrical devices like heaters or switchboards should be kept well away from EPS paneling. This is because the EPS foam is extremely flammable and any heat or sparks can immediately ignite a fire that will quickly spread out of control.
There are some lights that heat to temperatures that have related to many large fires and subsequent insurance claims. Changing to modern appropriate lighting Reduces fire risk and in turn insurance premiums
6. Check for Safety Measures
Having a fire extinguisher at your property or business can be an invaluable tool for fire safety and preventing hazards. Many fires can be brought under control if attended with an extinguisher within a few minutes.
It’s also important to ensure you have a working fire alarm and regularly test that it is working each year. Forward thinking and proactive businesses may utilse back to base monitored alarms.
If you’re passionate about fire safety you may even consider having an electrical safety switch installed. Installation requires a licensed electrician.
7. Consider Replacing EPS Paneling
If your EPS panelling was installed a while ago, it may be time to think about an upgrade or replacement. Building standards have changed dramatically over the past decade and your EPS panels may be out of code or date. It may be worth considering replacing the panels with non-combustible material like concrete or brick. EPS manufacturers and businesses that use EPS products can take note of these recommendations.
8. Speak With an Expert
Forward thinking and proactive business will be rewarded with upfront risk management. Businesses that wait for insurance surveys are given the opportunity to implement changes but are not necessarily rewarded through their insurance premiums. Those that are proactive generally are!
At the end of the day if you’re looking for extra ways to keep your premises safe from EPS related damage and lower your insurance premiums it might be worth talking to an EPS insurance expert. Many insurance companies will not cover EPS because of the risk, or if they do they require engineering survey reports and more. Luckily, the team at Ausure Horizon aims to make the insurance process a lot simpler. They can help you figure out which tactics will help to keep your property safe and which insurance policy might best suit your needs. If you’re interested then contact the team at Ausure Horizon today!