Even a minor water leak can create thousands of dollars of damage in a home or business, and according to iPropertyManagement.com, the average home insurance claim for water damage is $11,098, which nationwide translates to roughly $20 billion per year. Consider that a leaky faucet can waste approximately 3,000 gallons of water, the same amount of water used in 270 loads of laundry, 1200 loads of dishes in a dishwasher or 600 showers. Water losses can also be caused by backed up drains, leaking water supply lines, clogged gutters, leaking water heaters and this time of year, a major culprit can be frozen pipes. While some homeowners insurance policies will pay for the water damage caused by frozen pipes, in this case, preventing them from freezing at all can save significant loss and heartache. The slideshow above provides tips to help policyholders prevent their pipes from freezing and offers several remedies in the event of an unexpected freeze. Related: Get ahead of winter weather with fall maintenance Water damage: As disruptive as major fires, explosions
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Patricia L. Harman
Patricia L. Harman is the editor-in-chief of Claims magazine, a contributing editor to PropertyCasualty360.com, and chairs the annual America's Claims Event (ACE), which focuses on providing claims professionals with cutting-edge education and networking opportunities. She covers auto, property & casualty, workers' compensation, fraud, risk and cybersecurity, and is a frequent speaker at insurance industry events. Contact her at [email protected]
