What is The Cost of Fire Loss in the US?
Did you know that in 2019, every 24 seconds a fire department responded to a fire in the United States? That means local fire departments responded to 1,291,500 fires according to the NFPA.
So, why are these statistics so important? Every fire contributes to hundreds of thousands of dollars being lost in the United States. From 1980 to 2014, the total costs of fire has increased by 50.3%. That’s major when you start to think about all the contributing factors that go into fighting fires.
It’s important to fully understand the cost of fire loss in the United States so that you can proactively take measures to protect your home, your business and your personal property. Fire prevention is the best way to minimize costs associated with fire and save lives in the event that an emergency does happen.
Breaking Down the Costs of a Fire
Every industry faces different challenges when it comes to fires. While the costs of residential property damage far exceeds any other costs associated with any other property type, the figures are nothing to ignore. Use the table below to learn more about the cost of property loss on average per sector.
| Property Type | Fires | Property Loss |
|---|---|---|
| Educational | 15,984 | $64,628,767 |
| Health Care, Detention & Correction | 6,719 | $56,766,860 |
| Residential | 382,399 | $7,561,851,577 |
| Business | 18,972 | $849,120,202 |
| Manufacturing | 5,270 | $509,513,456 |
| Storage | 22,401 | $637,147,702 |
See more detail about these statistics from NFPA.org.
As you can clearly see, no property type is immune to fire damage and property loss. And these nationwide averages should be a warning to all business owners. By taking the necessary precautions to avoid fires, you can save your business millions of dollars in the long run. In fact, just having working smoke alarms and sprinkler systems in place can drastically reduce the amount of damage that happens to your property before the fire department arrives. Just a few upgrades to your current systems can make a world of difference.
Upgrading Your Fire Prevention Plan
Ultimately the key to avoiding becoming one of these startling statistics is taking every necessary precaution in your office, manufacturing plant, healthcare facility or school. RTF Fire Protection offers a comprehensive no-obligation survey to help you identify problem areas or to develop a plan to upgrade or retrofit your current fire safety units. Contact us today.
