Many Property Owners Overlook Water Damage Prevention
Although the average water leaks results in $10,000 of damage, many property owners surprisingly overlook water damage prevention. Insurance carriers can add a lot of value to insureds and decrease the risk of loss exposure by taking the time to educate property owners about how to keep their properties dry throughout the year. A property inspection is the perfect opportunity to walk insureds through potential hazards and share ways to prevent water damage from occurring.
Year-Round Water Damage Prevention Tips
Here are some best practices for using a property inspection to educate insureds about the risks of water damage that they face throughout the year and how to prevent it from happening:
1. Ask if the homeowner hires a caretaker to look after the property while away on vacation.
Many insureds choose to take vacations during the summer months and holiday season. Unfortunately, leaving the house unattended for a period of time means that water can wreak havoc on the property if a leak is to occur. Talk to homeowners about shutting off the water supply if they plan to leave town for an extended period of time. Also, installing a water shut-off device will help to prevent widespread damage if a leak is to happen. Hiring a caretaker to look after the property while the homeowner is out of town can help prevent leaks for continuing to drip for days.
2. Encourage homeowners to pay close attention to the qualifications of a contractor if completing a renovation.
The spring, summer, and fall months are popular times of the year to renovate a property. However, remind homeowners that renovating a property can invite new water risks into the home. All contractors should be carefully vetted to ensure that they have the appropriate qualifications and certifications to complete the renovation, especially if any type of plumbing is involved.
3. Proceed with caution when approaching landscaping projects.
Many homeowners want to add new elements to their landscape design, such as installing sprinkler systems to foster a healthier lawn and garden. However, these new additions can increase the risk of water damage to the insured’s home if they’re not installed correctly.
4. Talk to property owners about how to prepare for frozen pipes.
Research shows that homeowners are more likely to experience water damage during the winter months than any other time of the year. Frozen pipes that burst in cold temperatures is a leading cause for water damage during the winter months. Insurance carriers should talk to homeowners that live in cooler climates about installing pipe insulation to protect exposed pipes in the basement or garage from freezing during the winter months.
Our team at Insurance Risk Services has been partnering with property and casualty insurance carriers for more than 40 years to complete in-person property inspections. When we complete a property inspection, we serve as the face of our insurance carrier partner. Let us help you use a property inspection to educate your insureds about ways to mitigate water damage. Contact us to learn more about how we can help you add value to your insureds.