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Home water damage can be a nightmare for homeowners, causing extensive structural damage, ruined furniture, and destroying expensive and sentimental belongings. It also causes the perfect conditions for mould and mildew. In severe cases, it can even force you out of your home. Every day in the UK, insurers pay out a staggering £1.8m for escape of water damage, with costs soaring for high value homes or unoccupied properties.
If you’ve watched The Money Pit with Tom Hanks, you’ll have seen just how quickly small issues can become expensive repairs if you’re not careful. This is why homeowners should take proactive steps to protect their homes and ensure that they have the right high value home insurance in place.
How bad can water damage be in your home?
Unfortunately, home water damage is almost always going to be significant. However, the severity typically depends on where the water damage is in the property and what has caused it. Leaks from above, such as the roof, typically cause some of the worst damage. As water flows down through the property, it will impact everything it comes into contact with, including floors, walls, insulation and ceilings. It will also damage furniture, fixtures and electrics. In extreme cases, there’s a genuine risk of ceilings collapsing.
The old adage that ‘a nagging spouse is like a dripping tap’ perfectly reflects how ignoring a small leak can quickly turn into something a lot worse. What starts as a small drip can turn into extensive and expensive repairs. Taking preventive measures by waterproofing your home and tackling issues as they arise is a sure-fire way to avoid the stress and expense of water damage in your home.
What causes water damage?
Several factors can cause water damage in homes. Some can happen fairly suddenly, while others can gradually develop over time. For example:
- Flooding, whether pluvial (surface water) or fluvial (river-related) flooding
- Leaks, including those from taps, rusty or corroded pipes and appliances
- Sewage back-up
- Blocked gutters
- Frozen pipes that burst
- Forgetting to turn off a tap
- Worn or eroded seals around fixtures
Remember, water damage can happen at any time of the year, so make sure that you also keep your unoccupied home safe in the summer.
If you are faced with the aftermath of water damage caused by flooding or leaks, it’s important to note that these are treated differently when it comes to insurance. Flood damage is typically covered under the flood section, while water damage from leaks falls under the escape of water section in policies.
Water damage in your high value home
For owners of high value homes, waterproofing is essential, especially if you have antiques and other valuable items. Here are some practical ways that you can waterproof your home and protect your belongings:
- Regularly check and maintain pipes to ensure that they are in good shape.
- Ensure that the roof is in good condition, especially if it’s an older home that may need more frequent roof inspections. Flat roofs should be checked by a professional at least every five years.
- Make sure that water pipes behind fitted furniture are easily accessible.
- Consider installing sump pumps in basements to help pump out water during a leak or flood.
- Install non-return valve in drains to prevent water from flowing back into the property.
- Set up appropriate flood defences at the basement or lower-ground-level doors.
- Make sure that basements are properly tanked by applying a waterproof membrane or coating to the walls and floors to make it watertight.
What about water damage in your unoccupied property?
Unoccupied properties are particularly vulnerable to water damage. In addition to the above steps for waterproofing your home, regularly visit the unoccupied property (ideally once a week) to check for potential issues. It’s also a good idea to give someone nearby, such as a neighbour, access to the property so that they can quickly tackle any emergencies. During storms or extreme weather, ask someone to check the property for any damage, such as a leaking roof, blocked drains or broken windows. The sooner that issues are dealt with, the better.
Five tips to prevent water damage in your high value or unoccupied home
Water damage to homes can be one of the most disruptive and expensive issues for owners of high value or unoccupied properties. Here are five tips to protect your property from water damage.
Clean your gutters regularly
Inspect your roof
Install a water leak detection device
Prevent pipes from freezing in winter
Ensure that you know how to shut off your water supply
Insurance considerations if you’ve previously suffered water damage and have an escaped water claim
A water escape claim can damage your property and affect your chances of getting competitive insurance rates. Insurers might view your property as a higher risk if there’s a record of water damage. While prevention is always preferable, if you’ve had past claims, there are strategies to help manage your premiums:
- Consider a higher excess for escaped water claims.*
- Install leak detection systems.
- Look for policies that exclude escape of water (though not recommended as a long-term solution). **
* In the case of a claim, you would need to make a contribution equal to the value of the excess amount. Insurers will not pay a claim when the amount claimed for by the policyholder is less than the policy excess
** Please note there may be scenarios which would no longer be covered, for example you could not claim for water damage.
Protection with high value home insurance
Water damage can be one of the most significant and expensive challenges for homeowners. Flooding alone causes an average of £1.3bn of damage each year to homes in the UK.
Whether you own a high-value or unoccupied property, taking proactive measures to prevent damage is essential. Regular maintenance, such as inspecting roofs, checking pipes and installing waterproofing systems, can help prevent leaks and flooding from damaging your home.
Choosing the right insurance coverage is also important when protecting your home. Owners of high value homes may benefit from a policy that provides coverage for water damage, also referred to as escape of water.
A high value home insurance policy may offer more extensive coverage for alternative accommodation. Chubb for example, offer unlimited cover in regards to alternative accommodation whilst other high value home providers offer up to 5 years of cover. Also, while a standard insurance policy may dictate which contractor you use for repairs, high value home insurance providers often let you use your preferred contractor for quick repairs, subject to the repairer passing any vetting checks applied by the insurer.
If you’re looking for a personalised service and dependable protection, contact Stanhope. With a focus on integrity and putting the needs of our clients first, Stanhope offers customised coverage and first-class support. Get in touch to learn more about our high value home insurance and unoccupied home insurance or get a quote.
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Sources:
https://www.gov.uk/prepare-for-flooding/protect-your-property
https://www.hometree.co.uk/blog/common-water-leaks-and-how-to-fix-them/
https://www.angi.com/articles/how-fast-can-water-damage-ruin-home.htm
https://www.cia-landlords.co.uk/advice/how-bad-is-water-damage-to-a-house/
https://www.which.co.uk/news/article/the-most-common-home-insurance-claims-ajOQH1x0W5fK