According to the Insurance Information Institute, 23.8% of all insured homeowners’ losses were in the category ‘Water Damage & Freezing’ with an average claim value of $10,849. Approximately one in 50 insured homes has a ‘Water Damage or Freezing’ claim each year.
So, what is a homeowner to do?
Consider using a ‘smart’ leak detector and a water shut-off valve that uses the home’s WiFi network to prevent or mitigate water damage. ‘Smart’ leak detectors use complex algorithms in conjunction with wireless leak sensors on your water system to sense leaks as small as a single drop of water. Upon identifying a leak, the detector will immediately send a signal to a water shut-off valve to shut down the water supply.
The leak detectors can also sense freezing.
Additionally, the ‘smart’ leak detector can be integrated into a central alarm system and notify the homeowner of any leak or potential for frozen pipes via a smartphone app.
A premium credit may be offered for a water shut-off system monitored by a qualified central station facility. Please contact your OceanPoint agent to determine eligibility for a premium credit.
Typically, there are two styles of installation:
Professionally Installed Systems: the shut-off valve is installed directly into the water line and communicates with the wireless leak sensors via the WiFi network. It offers the homeowner the ability to turn the water off via a smartphone app or turn the water off automatically upon sensing a leak, high water usage or the potential for frozen pipes.