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In 2018, P&C insurers paid out 7.8 billion dollars for direct claims incurred.

What’s the #1 home insurance claim? By far, the largest claims are for water damage. The types of water damage claims vary from bathroom leaks, toilets, clogged shower drains, corroded and older plumbing, roof leaks and flooding. 

Properties that are high-risk for flooding are assessed by flood risk management agencies such as TRCA, ICLR and NVCA. Home owners in these areas will typically pay a higher premium attached with this risk.
Other large insurance claims include severe weather storms such as hail and wind. Both can cause serious damage to your home.

Here are some preventative measures you can do to avoid costly and time consuming claims:

1. Know where your main water shut off valve is. When going away for a period of time it is recommended to shut off your main valve to prevent major disasters.

2. Check your pipes for wear or leaks. Be proactive and avoid mold, mildew and structural damage. Lack of maintenance isn’t covered in a standard home insurance policy.

3. Inspect your hot water tank regularly for rust and wear. It should be replaced every 10 years.

4. Inspect your washing machine hoses for cracks and wear.

5. Test your sump pump. Have a backup pump on standby and/or a generator.

6. Consider having basement outlets higher up on the wall. Plugs and electrical equipment should be off the floor to prevent electrocution and considerable damage during flooding. If you experience a flooded basement, do not go down there! Call a utility company, the fire department or a licensed electrician.

7. Check your roofs shingles and flashings. Make sure none are missing, broken, curled and/or damaged.

8. Ensure your property has proper grading. Your grading should be sloped a minimum of 5% away from your house.

9. Clean your gutters and downspouts. You can also extend your downspouts to redirect the rain water further from the house.

10. Prevent your outdoor taps from freezing in the winter. Disconnect your hose and drain the faucet - it will prevent a frozen pipe that can leak into the walls, floor and your foundation.

11. Minimize vegetation such as trees and shrubs near outdoor pipes. The roots can wrap around pipes and break them.

12. Install water detection devices. They detect moisture levels and slow leaks. They can be positioned near water heaters, sump pumps, dishwashers and toilets.

13. Inspect the trees on your property. Older trees can be a big hazard to structures on the property. Trim branches back regularly and have trees inspected by a professional if you suspect a disease.

If planning to be away from your property for some time, have a home watch professional check on your home.  Insurance providers require homes to be regularly checked while vacant or unoccupied.  Find out more information from your service provider.  Homeowners may save time, money and additional insurance premiums by having a home watch company check on their home while away. Need our services? Call us.   249-888-9061

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