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 Insurance Homes Most insurance companies are very happy to provide insurance policies for Force 10 projects at a level lower than premiums for conventionally built structures. A fully engineered building, such as a Force 10 structure, is a better risk than a structure that may not be engineered to resist the forces of Nature. Force 10 buildings have consistently resisted hurricanes, typhoons, earth tremors and fire throughout the world without any structural damage for over 15 years. The engineering and materials employed in the floor, wall and roof system are fully guaranteed for structural integrity. They are manufactured to an ISO 90001 standard for Quality Assurance. Force 10 provides a 10-year Structural Warranty as well as and Engineering Certifications for every building. Wood products are not used for the structural components of the Force 10 buildings, thereby reducing the potential damage from fire. The wall panels are covered with a non-flammable fiber-cement board and have received the best flame spread rating available (see Engineering Certification). By utilizing the fiber-cement board as the subfloor sheeting on top of the Force 10 galvanized floor system, the entire structure will receive the most favorable fire resistant rating available, which will help reduce the insurance premiums. In the U.S. Virgin Islands, Force 10 homes have been rated as "superior construction" by a large international insurance firm and therefore are entitled to the lowest residential insurance rate provided by that company. This rate was previously reserved for residences with a poured concrete roof. On St. John, U.S. Virgin Islands, all six Force 10 homes survived the destructive forces of Hurricane Marilyn in 1995 with no structural damage whatsoever. Most of the homes were located in areas where conventionally constructed buildings were severely damaged or completely destroyed. Not one insurance claim for structural damage has ever been filed for a Force 10 home in the Caribbean Region. In the past six years we have witnessed many billions US dollars of damage from Hurricanes Luis, Marilyn, Bertha, Georges and Mitch. The insurance policies written for Force 10 homes typically require lower premiums than conventionally built or other system built homes. In Hawaii, Force 10 homes are insured at a rate that is 50% lower than conventionally built wood homes because of their fire resistance and their proven engineered strength. 
Large Projects On the island of Aruba, a large Dutch insurance company, that suffered tremendous losses due to the damage caused by Hurricane Luis in 1995, has financed and insured the construction of a large medical center that will be completed in 1999. Their thorough review and approval of the Force 10 System demonstrates their commitment to building projects that reduce risk by utilizing the best quality materials and the highest engineering standards. Large Projects: The Australian Export Finance and Insurance Corporation (E.F.I.C.) E.F.I.C. will finance the Australian content of Force 10 projects to qualified borrowers for projects of a minimum of US $2,000,000. The E.F.I.C. scheme is designed to help governments and developers obtain the financing necessary to get large projects started if capital is tight or costly in their locality. Examples of projects eligible for E.F.I.C. financing: 1) Government OfficesThe E.F.I.C. scheme will finance 85% of all Australian content including shipping and Australian supplied labor if needed. The loan cannot be used to finance local mortgages. A 15% deposit is required upon application which is held in Escrow pending approval and is fully refundable. Initial applications are approved in 30 days and final approval takes 90 days. The loan period can be up to 10 years and carries either a fixed rate or a floating L.I.B.O.R. rate. Payments are due every 6 months in arrears. A Bank Guarantee is required from an approved Bank. To optimize the loan conditions, you should order as much Australian content as possible. Ordering a large number of component packages will save considerably on shipping costs. We can charter a ship to deliver 100-150 homes at a time, which will reduce shipping costs 25% to 40%.
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Innovative Builders, Inc. ~ P.O. Box 1257, St John, USVI 00831-1257 ~ Email Us Tel: 1.340.693.7150 or Toll Free: 1.866.613.6723 ~ Fax: 1.340.693.8150 ~ Printer Friendly Format |
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