Water, Water, Everywhere

Although these three words are borrowed from “The Rime of the Ancient Mariner,”  they capture the heartbroken sentiments many homeowners experience after a failure in their internal plumbing system that has caused water to flow throughout their home. Sometimes for hours or days.  

Just how common are losses like this?  Research from the Insurance Information Institute reveals that losses caused by the errant flow of water from inside a home are the second leading cause of loss to homes, trailing only damage caused by wind and hail.  Water damage claims are not only a frequent cause of loss, but the amount of damage to your home and personal possession is usually extensive. Very extensive. 

As an independent agent and personal risk adviser, I have years of experience helping homeowners to evaluate and implement cost-efficient and highly effective solutions that significantly reduce this risk.  Any who wishes to research the many issues and different available solutions can study this great article published by the International Risk Management Institute.

Spring has sprung, and with the new season comes the threat of water. Traditionally, we work with clients to customize their coverage through structuring water back-up coverage to protect personal assets that are susceptible to water losses. In addition, we have true flood insurance products available as we consult with our clients. We have found that a great percentage of our clients are not adequately protected for water losses.

If you end up with water in your basement, are you covered properly? Do you need flood coverage?  If your sewer line backs up, are you covered? Does your home have a shut-off system that will notify you if the water is flowing when are you not home? If you don’t know the answer to these questions, then you need a personal risk assessment. I will review your current needs and provide a recommendation. Don’t wait until you are underwater…