Water damage is the number one threat to Canadian homes. Nearly half of all property insurance claims in Canada are due to flooding and water damage.
In the last 40 years, property and casualty insurance payouts from extreme weather have more than doubled every five to ten years and insurance claims have been on the rise ever since 1980.
There are certain factors that have shown themselves to make a home more at risk for water damage.
If any of these factors apply to your home, make sure you take precautionary steps towards extra protection to avoid expensive repairs and increased insurance rates.
If your home is over 20 years old, it has a higher risk of water damage, because of the wear and tear it has experienced over the years.
Old pipelines and water systems are also more prone to fail and will cause extensive damage if they leak. If your home’s piping is over 70 years old, it’s time to look at replacing it.
In a high rise with multiple floors and units, such as a condominium complex, each unit has its own water system, which means there are many more areas of potential leakage or system failure.
When one unit’s water system fails, the damage can easily spread to neighboring units.
Keeping the right drying tools on hand and educating residents about water damage mitigation can help contain the spread of water damage.
Traditional materials have been tested by time. They are often installed to certain standards that may not be in existence for newer kinds of materials.
Younger buildings are sometimes built with more modern or experimental materials.
Some examples of water-resistant building materials include concrete, closed cell insulation, bricks, wall and floor tiles, aluminum and steel window-and door frames.
4. Weather and Region
Seasonal extremes or geographical risks must be taken into extra consideration in order to prevent water damage in your home.
As much as 10 percent of the Canadian population lives in high-risk flood zones and many do so without even knowing it. For as many as a third of Canadians living in flood-prone areas, there are no flood maps available to consult.
Protect your home by installing a sump pump and purchasing the right kind of insurance.
There is no better defense against damage than a commitment to disciplined home maintenance.
Deferring roofs or HVAC systems face a great risk of water damage. Efforts should be made to provide the required maintenance in order to avoid costly repairs and increased insurance rates.