Water is essential to life, but it can quickly go from being a friend to being a foe. (iStock)
With water around every corner, clients' properties are more vulnerable to water damage than many would imagine. In fact, water is the number one property-related homeowners claim, according to Chubb's claims data, and the Insurance Information Institute found that one in 50 homeowners will experience a related claim each year. When they do, it will cost close to $10,000 per leak.
Despite being both a common and costly risk, a recent Chubb survey of homeowners examining their approach to water damage prevention shows that it's a threat clients largely overlook. Luckily, agents and brokers can help clients prevent water from damaging their homes, no matter where it comes from. It starts by helping clients understand the seasonal exposures they face.
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