6 Ways to Protect Your Home from Water Damage

home water damage

Did you know, water damage is more likely to occur in your home than fire damage? We protect our homes from catastrophes, but water damage could be just as dangerous.

Plumbing leaks are common anywhere there is running water, such as:

  • Toilets
  • Faucets/Sinks
  • Dishwashers
  • Ice makers
  • Water heaters
  • Tubs/showers
  • Washing machines
  • Internal pipes and hoses

Water damage isn’t only a problem financially; it can lead to serious health risks from chemicals, toxins and mold, such as rashes, asthma or other chronic health conditions. Additionally, recent studies have shown that children with prolonged exposure to water- damaged rooms in their home are at a higher risk of developing eczema.

Whether from a slow leak or flooded basement, there are things that a homeowner can do to mitigate or minimize the extent of water damage.

  • Check for leaks or cracks in hoses that run to the washing machine, dishwasher and refrigerator at least once a year and replace these hoses every five to seven years.
  • Be sure the caulking around tubs and showers is free of cracks.
  • Know where your water main is located and how to shut it off.
  • Install floor pans under appliances to prevent damage from slow, undetected leaks.
  • Use water leak alarms, which will alert you to a leak in basements, laundry rooms, bathrooms, kitchens and sump pumps.
  • Buy a water flow monitoring system, which attaches to your water main and, if flow that exceeds normal use is detected, will automatically shut off the flow of water into your home.

When the problem is from your water service line, that’s when repairs can really get costly. Service Line Warranties of America offers affordable warranties to help cover those repairs. Enter your zip code to learn more.

Why are water costs rising?

iStock_000003907033MediumUS water sewer service provider

Recently, USA Today conducted a study of residential water rates over the past 12 years and found crumbling infrastructure is forcing repairs nationwide, with costs more than doubling in one out of every four localities of the 100 municipalities polled.

As water rates continue to rise, protecting private infrastructure becomes more important each day. Repairing a break or leak may seem simple, but if left unattended it could cost you thousands of dollars in not only repair costs, but also lost water. According to the USA Today study, a typical residential consumption level is approximately 1,000 cubic feet of water, which costs residents in Atlanta, Seattle and San Diego more than $50 per month. With any kind of water leak, your money is just dripping away and contributing to the rise in overall rates.

Water rates are driven by a variety of factors such as:

  • Upgrades to aging water systems to ensure you are receiving safe drinking water
  • Increased operation costs, including staff, electric, chemical treatment, infrastructure upgrades and fuel
  • Federal government rules and regulations, including water protection systems implemented after 9/11
  • Unique geographic conditions and circumstances that could limit availability, such as drought, areas prone to natural disasters, etc.

With many areas experiencing record-breaking drought conditions, water conservation has become extremely important, dictating extensive infrastructure improvements to fix failing pipelines to protect this precious resource.

Ultimately, when repairs need to be made to infrastructure, the cost is passed down to the consumer by raising rates in an effort to ensure adequate infrastructure repairs and upgrades are not left undone, costing consumers more in the long run.

As far as protection from the high cost of rising water bills, homeowners who conserve water can decrease their water bill. (Check out our previous blog articles about water conservation in the home and yard.) However, water conservation provides only some protection. While consumption may drop, increases in the cost of production, supply and operations may still result in an increased cost for the consumer. Additionally, some water companies in drought-stricken areas have imposed additional fees on customers who use more than an identified amount of water per month. In California, fines have even been imposed on those wasting water.

As a homeowner, your infrastructure is subject to the same failure potential as that of municipal infrastructure. When private water and sewer lines fail, the repair cost could be thousands of dollars, depending on the length of the line, the location of the line and the problem – costs the homeowner would be responsible for. For many homeowners, it’s not “if these private lines fail” – it’s “when these private lines fail, how will I handle the repair?” Homeowners who want to be prepared have options. They can add funds for service line repairs to their rainy day fund, or they can choose to enroll in warranty programs such as those offered by Service Line Warranties of America. For more information about Service Line Warranties of America, visit www.slwofa.com.

Can you afford a costly repair?

sad worried man in stress with piggy bank in bad financial situation

Times are tough and a recent study by the Federal Reserve discovered that more than 50% of individuals surveyed could not afford a hypothetical emergency expense of $400 without selling belongings or borrowing money.

Homeowners work hard for their money and it’s no secret that the expense of owning a home adds up over time. In fact, the study by the Federal Reserve also revealed that “more than a third of all respondents said they were worse off financially than five years ago.” With credit hard to come by and many of those eligible for retirement unprepared, expensive repairs are just not in the budget.

When evaluating monthly expenses, such as a water or sewer line warranty program, it’s important for a homeowner to consider what they have in savings and what they can honestly spend each month for protection. For those homeowners living paycheck to paycheck, a few dollars a month to provide peace of mind could outweigh the risk of “if” a failure would ever occur, considering just over half of the survey respondents were putting some portion of their income away in savings and only 39% said they had a rainy day fund.

If you’re evaluating whether or not to purchase warranty protection, consider the following factors:

  • Do you have savings to adequately cover a repair of potentially $2000 dollars?
  • Could you sell belongings to help cover the cost of an expensive repair quickly?
  • Could you apply for a loan in an emergency and know you would get approved? As more homeowners struggle to make payments, credit has become more difficult to obtain.
  • Could you refinance your home and use the excess for repairs?