26 Mar Is our house safe from water damage?
There are many reasons why one day our house could suffer a water damage problem. First of all, Mother Nature with intense and frequent heavy rains or spring floods can sometimes be a big contributing factor. Other times the causes can be aging infrastructure and broken sanitary appliances and fixtures or, quite simply, less spectacular events but just as irritating such as overflowing bathtubs, leaking water heater, etc.
Water damage is expensive
A study mentions that, in 2018, 40% of claims paid by home insurance were related to damage caused by water. It’s huge!
More precisely :
- 60% of water damage is due to defective municipal infrastructure.
- 40% of damage is due to breaks inside a home.
- 40 cents of each $ paid out in compensation goes to cover claims for water damage.
- In home insurance, this represents more than $636 million paid out each year to cover water damage, and this just in Quebec. (Insurance Bureau of Canada, 2018 Statistics)
How to avoid the worst when it comes to water damage
- THE ROOF – Make sure it is in good condition.
- WINDOWS – Check their condition regularly.
- THE SLOPE OF THE LAND – Make sure it slopes away from the house.
- THE CHECK VALVE – Have one installed in the basement.
- DOWNSPOUTS DRAIN – Make sure your downspouts drain direct water away from your home’s foundation and your neighbour’s house.
Is water damage covered?
Certain perils related to water damage are usually covered by a basic home insurance contract; for example, overflowing sanitary facilities (washer, toilet, bathtub, dishwasher, etc.)
As for other types of damage from outside, such as sewer backup or water seepage through the roof, you need to add additional coverage, known as an endorsement, to your insurance policy.