High Value Homes and Escape of Water
As we’re writing this Britain is experiencing a heatwave and the only escape of water many of us are concerned about is wondering if we turned the hosepipe off. Ironically, this is the best time of year to proof your home against escape of water. Wait until the weather turns and the first cold spell hits and you’ll be hard pressed to find a plumber with the time on their hands to talk you through the options, let alone offer you a competitive rate and installation.
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When asked what is the single largest risk to UK homes very few people would say escape of water –subsidence maybe, storm damage possibly, fire obviously, but escape of water from burst pipes? Few would rate this as a serious risk and yet statistically it is.
Damaged caused by escape of water and resulting mould due to excess humidity, costs UK insurers an estimated £2.5 million every day. Every one of these claims represents a homeowner with a headache, an excess to pay, building works to arrange and furniture, carpets and belongings to replace. At best escape of water is a nuisance, at worst it can lead to structural damage and even having to move into temporary accommodation whilst your home is being repaired.
Burst pipes caused by water freezing and expanding are without doubt the most common cause of escape of water. Generally brought about by sudden cold spells the winter always sees a spike in this type of insurance claim. Faulty appliances such as washing machines is another.
It isn’t just a risk in the winter either, insurers have been noticing a spike in escape of water claims in the month’s summer as well, with homeowners leaving their homes unattended whilst holidaying and not turning off their water supply. High value homes can be particularly susceptible to this type of risk, often because they have more bathrooms and in recent years, under floor heating.
Escape of water is also significant factor in the requirement for specialist unoccupied property, second home and holiday home insurance. This is because the longer a leak goes undetected the greater the volume of water that escapes and the greater the damage.
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The costs for dealing with escapes of water can run into thousands when you consider re-plastering costs, replacement of carpets, electronics and soft furnishing due to damage caused by mould spores, which in turn can lead to asthma and respiratory conditions, not to mention the inconvenience.
New smart technology has recently been developed to combat escape of water. These use sensors to detect standing water, an excess of humidity and freezing conditions and then send an alert to your smart phone. More advanced versions will also enable you to instantly shut off your water supply from the mains remotely using an app and consequently dramatically reducing the damage to your home.
When you take out a home insurance policy it pays to think about escape of water and the type of cover you have in place. For example, what costs would be involved should you require alternative accommodation? It can sometimes be difficult to detect where the water is coming from and doing so can involve creating more damage, so do you require ‘trace and access’ cover? It’s also a good idea to check policy documentation carefully since many home insurance policies stipulate that your home must be kept at a stipulated temperature and make it clear that escape of water cover is not the same as flood risk insurance which is a different specialist provision.
Highworth Insurance specialise in insuring high value homes, holiday homes, unoccupied properties and can even provide specialist flood risk insurance. You can talk to our knowledgeable Account Managers about any of these Monday to Friday between 9am and 6:30pm and on Saturdays between 9am and 12:30pm. They will be able to give you a competitive quotation based on your requirements on: 01202 937430.
Get a Quote
Why future-proof your home against escape of water
When asked what is the single largest risk to UK homes very few people would say escape of water –subsidence maybe, storm damage possibly, fire obviously, but escape of water from burst pipes? Few would rate this as a serious risk and yet statistically it is.
Damaged caused by escape of water and resulting mould due to excess humidity, costs UK insurers an estimated £2.5 million every day. Every one of these claims represents a homeowner with a headache, an excess to pay, building works to arrange and furniture, carpets and belongings to replace. At best escape of water is a nuisance, at worst it can lead to structural damage and even having to move into temporary accommodation whilst your home is being repaired.
Common causes of escape of water
Burst pipes caused by water freezing and expanding are without doubt the most common cause of escape of water. Generally brought about by sudden cold spells the winter always sees a spike in this type of insurance claim. Faulty appliances such as washing machines is another.
It isn’t just a risk in the winter either, insurers have been noticing a spike in escape of water claims in the month’s summer as well, with homeowners leaving their homes unattended whilst holidaying and not turning off their water supply. High value homes can be particularly susceptible to this type of risk, often because they have more bathrooms and in recent years, under floor heating.
Escape of water is also significant factor in the requirement for specialist unoccupied property, second home and holiday home insurance. This is because the longer a leak goes undetected the greater the volume of water that escapes and the greater the damage.
Get a Quote
How to protect your home against escape of water
The costs for dealing with escapes of water can run into thousands when you consider re-plastering costs, replacement of carpets, electronics and soft furnishing due to damage caused by mould spores, which in turn can lead to asthma and respiratory conditions, not to mention the inconvenience.
New smart technology has recently been developed to combat escape of water. These use sensors to detect standing water, an excess of humidity and freezing conditions and then send an alert to your smart phone. More advanced versions will also enable you to instantly shut off your water supply from the mains remotely using an app and consequently dramatically reducing the damage to your home.
Other precautions you can take include:
- Not turning off your heating when you go away, especially during cold seasons
- Turning off your water supply if you go away in the summer
- Only using appliances such as dishwashers and washing machines when you are at home
- Keeping on top of general maintenance, regularly checking taps and appliances for leaks
- Knowing where your stopcock is so you can shut the mains off quickly
- Well insulating your home
High value home insurance and escape of water
When you take out a home insurance policy it pays to think about escape of water and the type of cover you have in place. For example, what costs would be involved should you require alternative accommodation? It can sometimes be difficult to detect where the water is coming from and doing so can involve creating more damage, so do you require ‘trace and access’ cover? It’s also a good idea to check policy documentation carefully since many home insurance policies stipulate that your home must be kept at a stipulated temperature and make it clear that escape of water cover is not the same as flood risk insurance which is a different specialist provision.
Highworth Insurance specialise in insuring high value homes, holiday homes, unoccupied properties and can even provide specialist flood risk insurance. You can talk to our knowledgeable Account Managers about any of these Monday to Friday between 9am and 6:30pm and on Saturdays between 9am and 12:30pm. They will be able to give you a competitive quotation based on your requirements on: 01202 937430.
To discuss your insurance needs with an experienced account manager please call 01202 937430 or apply online to get an instant quote