The Cost of Fire Damage: Why Fire Protection is a Smart Investment

Many people don't realize how devastating a fire can be. Often the cost of the damage is far beyond what is visible on the surface. This is especially true in a fire in a commercial occupancy or in a business. The damage goes beyond the immediate physical damage to the owners, employees, customers, and the community in which the business operates.

The Devastating Impact of Fire Damage

Any fire leaves immediate and devastating consequences. Property is lost or severely damaged. Inventory is no longer available to be sold. The business often must cease for a period of time which has even further consequences. Equipment, raw materials, and business records may be lost and unrecoverable.

Beyond these immediate losses, there are often unseen long-term losses that affect many more people. The business may suffer lost revenue and an eroded customer base. In some situations, the business must be relocated while incurring additional costs. Beyond that, employees may face periods of time without income or benefits. Priority customers may suffer economic distress when a source of critical parts or inventory become unavailable. The pain is often felt far further than just at the scene of the fire.

The Canadian Centre for Occupational Health and Safety (CCOHS) doesn't publish specific statistics on warehouse fire losses, but there's no doubt these facilities pose a serious fire risk. Across North America, warehouses are susceptible to fires due to large storage areas, heavy loads, and sometimes hazardous materials. Understanding these risks and implementing proper fire safety measures is crucial for protecting employees and property.

Beyond the Obvious: Hidden Costs of Fire

Exploring beyond the easily seen costs of fire, we discover that the damage extends well beyond the property lines. Employees often suffer losses in income and benefits. Customers lose access to products and inventory that may affect their business and livelihood. The community may suffer from a loss of jobs and tax revenue that supports schools, local infrastructure, and the medical support in the community.

Fires also impact the community overall by adversely affecting the insurance history of the municipality. This can lead to increased premiums for some businesses and may even disrupt the availability of insurance coverage in extreme cases.

Many times, the hidden costs of a fire in a business ripple out through the community without being seen or understood. This all points to the need for sound planning and investment in fire protection systems.

Fire Protection: A Sound Investment

Preventing fires is a sounder approach than fighting fires. The investment in a properly planned and installed fire protection system is often much less than the cost of a devastating fire and the rebuilding process that comes afterward. The old adage, an ounce of prevention is better than a pound of cure, is very appropriate when discussing fire prevention and protection system in business and industry. There are any number of reasons to invest in a well-planned fire prevention and suppression system.

• Well planned and installed fire prevention systems can significantly reduce the costs associated with a fire. Typically, fires in protected structures incur less physical fire damage, reduced smoke damage and significantly less structural damage.
• Structures in which a fire protection system exists and operates properly face shorter times for recovery than non-protected structures. This results in less loss of revenue and less disruption in supply chains.
• In may instances, the installation of a fire protection system results in lowered insurance premium costs, lowering the operating expense to the business, and positively affecting the net return to the business.
• Some studies indicate that employee morale can be raised and sustained when a fire suppression and protection system is known to be in place. Employees seem to understand that an employer who sees the benefit in supplying a save work environment has their welfare in mind.

It doesn't seem to matter what kind of fire protection system is installed. You may elect for the most sophisticated fire suppression and alarm system on the market or install a basic sprinkler system with a rudimentary water bell. The fact that you are farsighted enough to plan ahead will make a difference in your business.

Fire suppression systems are available in a range of styles, sophistication and cost. The decision on what constitutes the best solution for your business is one the demands close study and understanding. The benefits of providing fire protection to your business are undeniable. The upfront cost should be viewed as a long-term investment that may, at some point, pay off with a bigger return.

If you have questions about fire suppression or protection systems for your business, call Control Fire Systems to arrange to talk to one of our professional sales team. We will be able to guide you in finding a solution for your needs that fits your budget.