4 Cost-Saving Reasons Your Senior Living Community Needs a Sprinkler System
If a large fire breaks out, what protection devices do you have in place? Fire extinguishers can be effective, but only for small, isolated incidents. Maybe it’s time to consider installing a sprinkler system in your senior living community! This preventative measure is an extremely worthy investment to minimize risk.
Sprinkler systems can save you money in many ways, meaning that in the long run it practically pays for itself. Sprinkler systems can be beneficial for your community by:
- Lowering Insurance Premiums – The installation of a sprinkler system in your building minimizes risk, resulting in lower insurance premiums. It can also qualify a building for certain income tax reductions that it would not otherwise qualify for – for example, the expenses could qualify for the credit as part of a renovation.
- Reducing Losses – Liability is another important reason for installing sprinkler systems in your building. Research has shown the public considers sprinkler systems a “reasonable level of care,” resulting in building owners having to pay out over $1 million per life lost in the event of a fire where a sprinkler system was not present.
- Keeping the Building Compliant – Not only do sprinkler systems save you money in the event of a fire— it's also an easy way to ensure related building codes and laws are being adhered to. Keeping yourself in compliance with codes and laws surrounding sprinkler systems will save you potential headaches later.
- Avoiding Business Interruption – Most companies that have fires never reopen their doors. With sprinkler systems installed, the chance of a fire interrupting business is minimized—sprinkler systems can contain fires in small areas, decreasing the amount of damage and making it possible to more quickly reopen buildings and operations.
Because fires are a relatively common occurrence, it’s important to protect your senior living community’s staff, residents, volunteers and visitors from harm as well as giving peace of mind that your community is safe and well-protected. Be sure to also implement fire evacuation procedures for larger incidents that occur.
For more information on how to minimize risk for your senior living community, chat with a member of the ‘A’ Team!
- Fire Evacuation Procedures for Nursing Homes
- Senior Living Industry Flyer
- 2017 Industry Outlook Video: Senior Living
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