BOULDER, Colo. — According to a new study led by a researcher at CU Boulder, for every $1 a person invests in natural disaster preparedness for their home or business, they get $11 back.
A news release from CU says the latest numbers come from the Natural Hazard Mitigation Saves report that's published every year by the National Institute of Building Sciences. CU Boulder's Keith Porter led the research.
The study argues that homeowners, developers and even communities could save lives and heaps of money by preparing for natural disasters ahead of time. There are a variety of options available to those hoping to mitigate storm damage - from raising houses above floodplains or even strengthening office buildings against natural disasters.
Porter's research, according to CU Boulder, could save people in the United States billions of dollars if people ensure new structures meet or even exceed the International Building Code. The code is a set of rules accepted far and wide for building safe structures, according to CU Boulder.
The report also says that if these standards are met, about 600 deaths and 1 million injuries might be avoided.
According to the report, communities, homeowners and business owners could save varying amounts of money based on what they're willing to do.
For instance, here are the suspected savings by the numbers provided by CU Boulder:
$11 for every $1 spent: Meeting building codes
$6 for every $1 spent: Applying federal grants for mitigation
$4 for every $1 spent: Exceeding building codes
$4 for every $1 spent: Improving utility, roads, highways and railroads
$4 for every $1 spent: Protecting communities from wildfires
That's a potential savings of $29 for every $5 invested.
SUGGESTED VIDEOS | Science is cool