In recent years, operating costs have increased across nearly every area of business, and commercial property insurance is no exception. It is estimated that monthly insurance costs could reach $4,890 by 2030.
This is nearly twice the monthly cost recorded in 2023 and more than three times the estimated monthly premiums in 2013. For commercial building owners, these increases make preventive property maintenance an important part of financial and risk management.
One major factor behind rising premiums is the scale of losses incurred by insurers. In 2023 alone, insurers worldwide reportedly faced $92.9 billion in losses.
Extreme weather also contributed to these costs, with 28 major weather events recorded during the year—more than 50% higher than in 2022. This figure is forecast to reach 42 events by 2030.
Due to the growing risk, some insurers have withdrawn from certain states or markets, while those that remain are increasing premiums to account for past losses and expected future claims.
Commercial property owners can help manage these costs by regularly inspecting and maintaining their roofs. Modern inspection methods, including drones, thermal imaging and digital maintenance records, can help identify leaks, moisture and structural weaknesses before they cause more expensive damage.
A well-maintained roof presents a lower property risk and may make the building acceptable to more insurers. Some providers may also offer discounts for annual roof inspections, depending on the policy and condition of the property.
With insurance costs expected to remain high, proactive roof maintenance can help businesses protect their buildings, reduce preventable claims and strengthen their position when seeking coverage.
Source: Kato Roofing
