Insurance Claims With A Water Shutoff Device

By: Advocate Brokerage

If you are just getting ready to purchase a second home, installing a water shutoff device is one of the first things to consider. Why? Keep reading as today’s blog explains what these are, how they affect your insurance, and the problems today’s technology can circumvent.

What Is A Water Shutoff Device?

A water shutoff device is simply a device, often controlled by smart technology, that stops water flow into a home if irregularities are detected. There are two types of water shutoff systems. These are manual and automatic.

A manual water shutoff valve is one that you turn yourself. These are common and found in just about every home. However, they are only helpful when you are physically there to see a problem and can get to the valve on time.

An automatic shutoff valve is monitored by smart technology. A flow-based system keeps a virtual eye on water flow rates inside the pipes of your home. If flow rates are out of the ordinary or the system detects continual movement for an extended time, the water inside the home will be shut off automatically.

A sensor-based system utilizes strategically placed sensors that detect moisture. If these come in contact with water, such as the case with a leaking washing machine or dishwasher, some systems will shut off the water. Other systems will alert you that water has been detected.

How Does This Affect My Home Insurance?

A smart water shutoff device may provide you with a substantial discount on your homeowner insurance. You may be required to install one of these devices to qualify for insurance on a second home. There are many reasons for this type of precaution. For one, secondary homes are often unoccupied for extended time frames. Water damage is one of the leading sources of insurance claims. Simply put: leak detection systems minimize damage.

What Types Of Issues Can An Automatic Shut Off Valve Prevent?

An automatic shutoff valve can help prevent plumbing failures caused by faulty workmanship, normal wear and tear, appliance malfunction, and more. This is especially important in second homes where small leaks may not be noticed immediately. Leaks such as this can cause major damage over time by causing mold, mildew, and wood rot.

Additionally, installing a smart water shutoff system may be required by your insurance company if the home has suffered water damage claims.

Ask your insurance Advocate for more information on how a smart water shutoff device may affect your home’s insurability.

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