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Why a Plumbing Leak Costs You For Years to Come

“I have insurance, I don’t need a leak control device.” If you’ve ever thought insurance is the only safety net you need to protect your home, you aren’t considering the long-term cost implications of using your coverage to repair water damage from a plumbing leak.

Plumbing leaks affect one in 12 homes each year, according to a U.S. Housing survey. While the severity of leaks varies, when they are significant enough to involve insurance, the average water loss claim is around $8,000, according to the Insurance Information Institute. The homeowner is responsible for making the deductible payment before the insurance company covers repairs. And every time a claim is filed, or sometimes even if a claim is simply discussed and not filed, the insurer logs the event into a central database called C.L.U.E (Comprehensive Loss Underwriting Exchange) where any and all insurance companies will have record of your event. A water loss strike on your C.L.U.E. report may cause an insurer to drop your coverage or refuse you as a new customer. And a water loss on your C.L.U.E. report almost certainly will cause your annual premiums to increase significantly. In fact, water loss events can stay on your C.L.U.E. record and cost you exponentially more in premiums for up to seven years.

To summarize, even if insurance doles out the cash to give you new floors from a leak event, you’re still paying thousands extra in the long run when you experience a water loss. The inevitable financial pain of a plumbing leak can sometimes pale in comparison to the agony of your life being disrupted by loss of use of your home, irreplaceable property being destroyed and the possibility of ongoing issues with mold infestation.

Because plumbing leaks are so common and costly, it’s logical to see how an ounce of prevention is worth a pound of cure. A FloLogic smart leak control device has the most comprehensive real-time leak detection technology with automatic shutoff to prevent water damage. For those who have filed a water loss claim, a FloLogic installation may be your ticket to maintaining coverage, or realizing lower premiums. For those who have not yet experienced a leak, a FloLogic device will almost certainly guarantee that you are never faced with the hardships associated with a water loss. Not to mention, FloLogic will likely help you save on annual premiums even if your C.L.U.E. report is squeaky clean.

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