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Protect your home and finances from water damage

Protect your home and finances from water damage

Water has been shaping our planet for a long, long time. It’s a powerful force. When you’re at the ocean, it’s hard to ignore. But when it comes to a simple stream, water can seem harmless – even though that stream has the capacity to turn large swaths of land into gaping canyons. Now, imagine what a leaking pipe or other water issue can do to your home and belongings if left unchecked or unmonitored.

Thankfully, there are ways to monitor your house to reduce the chances of water damage as well as save some money on your homeowners or renters insurance in the process.

Technology to the rescue

If you like using technology to solve issues and save time, you’re going to love some of the options out there to monitor your family’s water usage as well as potential water damage in your home. These options are cost-effective, and in some cases, can reduce the cost of your insurance premiums or deductibles.

  • FIBARO Flood Sensor: $27
    These battery-powered water detection devices are super simple. Just place them in an area of your home that could potentially foodflood. Or place it outside and monitor for the possibility of frozen pipes. The device then uses wi-fi to send updates. Batteries last for two years with 24/7 monitoring.

  • StreamLabs® Water Monitor: $199
    Using your home’s wi-fi, this handy device monitors your home for possible water damage and leaks using ultrasonic sound. It’s easy to install and even easier to use with the smartphone app. You can also upgrade to their $599 StreamLabs Control for added monitoring.

  • Flo by Moen Water Mitigation Device: $499 +$5/month
    This device helps you monitor your whole home for possible water damage and leaks. The information received by computer or smartphone allows you to monitor how and when your family is using water and ways to trim usage. Some insurance providers offer rebates on the cost of the device and/or installation.

Water damage adds up

The average cost of water damage in a home can add up fast. The average insurance claim for water damage is $9,633 and can take up to 3.5 days to dry out, according to the Insurance Information Institute. That’s a lot of money and a fair amount of your time spent on cleanup, not to mention repairs.

To reduce the chances of extensive water damage to your home, try these simple tips:

  1. Mark your water main valve and learn how to turn it off in case of a burst pipe or other issue.

  2. Replace and check hoses for washing machines, toilets, and dishwashers periodically. Use steel-braided hoses for increased durability.

  3. Monitor your water bill carefully. If you notice a spike in usage, you could have a leak.

  4. Clean your gutters and downspouts every year. This will help move water away from the foundation and crawl space.

  5. Check your water heater for leaks and corrosion. A faulty water heater, especially one inside your home, can cause considerable damage if it bursts.

Get answers at First Tech Insurance Services

Call 855.855.8805 or stop by your nearby branch to chat with one of our licensed service agents about your homeowners or renters insurance options, as well as any rebates or cost reductions you can get by implementing a water mitigation device in your home.