Water damage makes up 45% of all property damage - happening more often than fire or burglary.
If you have a "smart home" then you should consider adding another feature - a leak detection system (i.e. Flo by Moen or Sentinel Hydrosolutions). This gives homeowners the option to turn their water supply on or off remotely on their smart phone or other device.
Insurers that we partner with - Berkley One, Chubb, AIG and PURE for example, offer incentive programs and potential premium discounts who have a leak defense system installed in their homes.
Here is how most leak detection system works: Sensors are placed around the home under or next to anything connected to a water line, including sinks, toilets, water heaters, washing machines, refrigerators and bathtubs. If water touches the sensor, it will send a signal to a control board that in turn sends a message to a command to shut off the valve at the main supply line. The system also monitors water flow through the home's plumbing system and can close a valve installed in the water line feeding a home if it senses water flowing at a greater-than-expected volume or duration.
If you are renovating or under construction at your home, it is important to have Builders' Risk coverage to protect against damage to the building(s) during the process. Builders' Risk insurance is usually bought by the owner of the building or the land. Occasionally, the general contractor will buy it instead if it is stated as requirement the contract - then the costs may be passed on to the client.
[READ MORE] to learn about why it is important that you or your contractor has a builders' risk policy when remodeling or building your home from our partners at Chubb.
For more information about Builders' Risk coverage, contact Rand Insurance at (203) 637-1006 and one of our team members will be happy to talk with you about your needs.