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The Hanover's 2023 Home Water Damage Prevention Report
By: Daniel Halsey, president of personal lines at The Hanover
Recent data from The Hanover's Home Water Loss Prevention Report, a study commissioned by Harris Poll, revealed a surprising lack of preparedness among homeowners when it comes to non-weather-related water damage.
In fact, non-weather-related water damage resulting from everyday issues like pipe leaks or malfunctioning appliances is the second most prevalent cause of home insurance loss claims. But despite the high risk, only 17% of homeowners have water sensors installed in their homes. With this in mind, it's not surprising that we see more and more independent insurance agents adding preventative risk consultation to their toolkit of ways to provide valuable services to clients. The best protection is prevention, and strategic agents are educating their clients specifically about the common and disruptive risk of non-weather water damage – and the preventive measures they can take both to avoid and minimize damage.
By recognizing homeowner priorities, agents can better address concerns and highlight the importance of water damage prevention without disregarding other areas of protection. Here are four ways agents can engage customers in-home water loss discussions.
