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Tag Archives: water damage
While most homeowners are rightly concerned about fire, theft and how to safeguard their home, new data from Chubb shows that the majority of homeowners are overlooking the single most common property-related loss: water damage. In fact, in a survey … Continue reading
Hiding in your home is an unforeseen – and often overlooked – risk that may cause major stress, disruption and financial loss. The culprit? Water damage.
Regardless of your home’s location, be it on the coast, a flood-prone area or inland, water damage poses an enormous risk to your home and valuables within. In fact, water damage is seven times more likely to occur than a fire and six times more likely than a burglary – and more than half of homeowners who experienced water damage in the past two years reported spending over $5,000 in repair and clean-up costs, with 15% of respondents spending $20,000 or more, according to a Chubb survey.
Most homeowners don’t recognize the risk that lies within plain sight within their home or condo – water supply lines. An average four-bedroom, three-bath home can contain 15 or more water supply lines; however, checks of the condition of these … Continue reading
Most homeowners think of fire as the main threat of damage to their home. But did you know that there are nearly five times as many insurance claims for water damage versus fire?1 Plumbing leaks are a major cause of … Continue reading
A growing range of high-tech products are available to help homeowners mitigate risks from water or mold damage in unoccupied, secondary homes.
Some risks are unseen by the naked eye—things lurking behind the walls, below the floor or above the ceiling that can lead to costly damage if not identified and addressed. These hidden dangers fall into three main categories: electrical problems, water intrusion and infestation.
If last year’s Hurricane Irene taught us anything, it was that with extreme rain events come wet basements. The vast majority of insured losses caused by Hurricane Irene were caused by wet basements. Many of the losses could have been … Continue reading