- Check your home’s drainage system to see if proper water drainage occurs. EXAMPLE: gutter downspouts should extend the proper distance from the foundation. Keep gutters clear of debris so water can drain properly.
- Is your yard properly graded to slope away from the home to allow surface water to adequately drain?
- If your basement is vulnerable to water collection, consider installing a sump pump system to keep unwanted water out of this part of your home.
- Washing machine hose failures cause millions of dollars of water losses each year. Check hoses periodically and replace at the first sign of wear. When replacing, many insurance adjusters recommend upgrading to the heavy-duty wire mesh or stainless steel hoses.
Did you know, not all water damage losses are covered by the homeowners policy? These losses can be very expensive. But, there are ways you can safeguard your home from water damage losses. Here are a few areas of your home to consider:
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In 2017, there were 16 separate disasters in the U.S., which generated total record losses in excess of $306 billion (1). Most damage was the result of flooding, including historic floods associated with Hurricane Harvey in Texas and Louisiana, and record high water levels in Missouri, Arkansas and Illinois.
Here are facts you should not ignore:
In the Northeast, floods can occur from spring snow melt, rapid rainfall, changing weather patterns and clogged rainwater systems. In general, they can also occur from tropical cyclones, structural failure leading to flash floods, or new building development. It doesn't take much water to destroy a property and wipe out the finances of an uninsured homeowner or business. The National Flood Insurance Program (NFIP) estimates that 1 inch of water in a home can create $20,000 worth of damage (3). And yet, few property owners have flood insurance (besides those in high-risk areas who are required by their lenders to purchase NFIP policies). Think about this:
What about you? A licensed insurance agent can help you understand the different insurance products available. Even with government-backed NFIP policies, some people may need excess coverage to cover up to replacement cost, and still others may benefit from various coverage options available with private insurance products instead of an NFIP plan, when available. Ask a licensed Connecticut Insurance Exchange agent about flood insurance today. Source: (1) According to the National Oceanic and Atmospheric Administration (NOAA). (2) FBLIC (3) National Flood Insurance Program (NFIP) (4) Insurance Information Institute Poll |
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AuthorMelanie Thomson-Tregoning is a Licensed Insurance Agent and VP of Marketing for Connecticut Insurance Exchange, Ltd. Categories
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