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Homeowners

More frequently, towns are mandating water restrictions as a result of shortages and cities with ever increasing demands are fighting over access. With all of this, the risks of allowing leaks to continue running in your house are still greater then you probably imagine. Chances are, you or someone you know has had water damage and the consequences can be severe including:

  • Property and structural damage
  • Uninhabitable home during restoration
  • Loss of irreplaceable personal items
  • Full deductible payout
  • High water bills from hidden leaks
  • Toxic mold colonization
  • Increased insurance premiums
  • Non-renewable insurance policy
  • Difficulty selling house

Most people believe that like other disasters, water damage is what happens to other people.  The truth is that you are 6 times more likely to have water damage than a burglary and 10 times more likely to have water damage than a fire.  Everyone protects their house in some way from fire and intruders but so few people realize that the more common source of danger is flowing through your floors, ceilings and walls every day!

Water damage claims cost Billions of dollars annually in homeowner policy property losses and according to James Guyan at Augusta Mutual, “these losses range from $2,000 to $30,000 with a mean of most likely around $5,000” per incident with some total losses even occurring.  If you have a high deductible or no insurance, you will be paying for that out of your pocket!

According to an ACE Private Risk Services study of damage sustained by affluent homeowners, the average repair costs for this type of claim could exceed $20,000.  If your insurance company pays, they could end up requiring you to install one afterwards just to maintain coverage or, they could simply cancel you. In this case, it will be harder for you to find affordable property insurance with another carrier and some of those may still require you to install one before they agree to offer you a new policy.

Insurance companies rely on a Comprehensive Loss Underwriting Exchange or C.L.U.E. report to assess your claims history when determining your insurability and rates.  These reports include your name, address, a description of your property, policy number, claim dates, type of loss and amounts paid.

If you think you can just sell the house to escape it, they get you there too.  All of your potential buyers have access to this information as well when getting insurance quotes for the property before closing on your house.  This is of course, if the home inspector does not notice something first!

The benefits of installing water security systems in your house are well worth the cost and are far less expensive than experiencing catastrophic water damage.  A few benefits include:

  • Peace of mind
  • Insurance policy discounts
  • Reduced or no payout of deductible
  • Protection from catastrophic water loss
  • Awareness & control of personal water use
  • Reduced water bills
  • Water conservation
  • Reduced risk from the issues in the previous bullet list!

If the only thing stopping you from installing a system is the perceived cost, we can help you find affordable options.  If you are just not sure what system to go with, we can help you decide.  If you think it is too much of a hassle or you don’t understand how they work, give us a call and we will help explain how easy it can be to live with one.

If you think water damage won't happen to you, just remember we are here to help you when it does because statistically, it is very likely it will.