18 Mar Did You Spring a Leak?
What’s the number one insurance claim of home owners? Water damage! With all the tornadoes, wild fires, and hurricanes we see in the news it might surprise you to know that water claims take the lead. This type of claim has increased over the years while many other claims, like fire, have declined.
The reason for this varies by home type. Older homes tend to have worn out hoses, old pipes, and faulty connections while at the same time increased water usage.
Newer, luxury homes have more of an opportunity for water damage due to the addition of more bathrooms, large showers with multiple heads and sprayers, second floor laundry facilities, and wet bars, just to name a few. More pipes and valves… more chance for leaks.
What’s a homeowner to do? Routine plumbing maintenance is extremely important and often neglected. Valves and pipes out of sight are often out of mind. If you hear water running in the toilet, have a dripping faucet, or even a loose faucet handle, take care of it right away. Your insurance provider might reject a claim if it was due to negligence on your part.
Water detection devices are a newer technology that is taking hold with homeowners and being noticed by the insurance carriers. Several insurance carriers offer premium credits if the homeowner has these devices installed.
I personally have these water detection devices in my home wherever there is incoming water, by each sink, toilet, washing machine, ice maker, etc. This system includes a water shut off valve which turns off water to the entire house once water is detected. It gives us peace of mind and a discount on our homeowners policy. However, I learned the hard way about this product.
After being gone for most of the day, we returned home to the sound of water running and splashing! The faucet handle in our bathroom had popped out and water was spraying for hours! After replacing a ceiling, carpeting, wood flooring, and bathroom fixtures, we vowed to never have this happen again. Unfortunately, there are many others like me that wait until it’s too late to take precautions.
Don’t be one of us. Check out your plumbing, water detection devices, and your homeowner’s policy today.
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Material posted on this website is for informational purposes only and does not constitute a legal opinion or medical advice. Contact your medical professional or legal representative for information specific to your needs.