Water, Water, Everywhere
August 13, 2021
Although these three words are borrowed from “The Rime of the Ancient Mariner,” they capture the heartbroken sentiments many homeowners experience after a failure in their internal plumbing system has caused water to flow throughout their home. Sometimes for many hours or days.
Just how common are losses like this? Research from the Insurance Information Institute reveals that the unintended flow of water from a residential plumbing system is the second leading cause of loss to homes, trailing only damage caused by wind and hail (think hurricanes, tornadoes, and hailstorms). Water damage claims from plumbing systems are not only a frequent cause of loss, but the amount of damage to your home and personal possession is usually extensive. Very extensive.
Lyons Companies, an Assurex Global Partner, has experience helping homeowners evaluate and implement several cost-efficient and highly effective solutions that significantly reduce this risk. Among the best sources of many available solutions are a small group of carriers serving the protection needs of financially successful individuals and families, including Chubb, Berkley One, and AIG Private Client Group. In addition to reducing the risk of water damaging your home, these carriers provide generous premium discounts for homeowners who take steps to improve their protection.
For any who would like to work with a highly qualified risk adviser who can recommend the right solutions to keep the water in your home where it belongs — in your plumbing system — Lyons Companies is happy to assist. Call 800.456.5508 to speak with one of our go-to advisors today!