According to a recent survey by Chubb, the world’s largest publicly-traded property and casualty insurance company, the majority of homeowners are not taking adequate steps to protect their homes against water damage.
Water damage is the number one cause of property-related claims, and people often underestimate how much water is in motion in and around their homes. Taking proactive action to install a water shut-off device, check hoses periodically, and perform water heater maintenance can be major factors in preventing water leaks. You should also be mindful of having issues fixed in a timely manner when they do arise, even if they seem small or insignificant. Did you know a leaky faucet can spill up to 3,000 extra gallons per year, at a rate of only one drip per second?
There are additional water risks associated with each season of the year. Speak with your insurance agent or broker to ensure that you are adequately covered in case of water issues — whether it’s an internal water leak or a weather-related issue. When something happens, you’ll be glad you did.
Click here to view an infographic by Chubb with additional details from their survey and some great tips for protecting your home.
References:
https://www.multivu.com/players/English/8341451-chubb-water-risk-survey/
