Water claims are the second most frequently filed homeowners claim. The national average cost per claim is about $10,900. In addition to the cost to repair, often your personal property is significantly damaged and your home can take months to repair. But, there is good news! Technology has made lots of advances in preventing and avoiding water claims.
A newer device on the market – FLO by Moen – can independently detect a leak in your home and turn off the water to your home when a leak is detected. If you travel often, or have a second home, this becomes even more valuable considering undetected leaks can cause hundreds of thousands of dollars in damages.
To use the device, it must be professionally installed and needs an electric outlet nearby. The cost is $499 + installation, but use of the product does often times come with a discount on your homeowners insurance. Safeco Insurance even offers a deductible waiver of up to $2,500 in case FLO does not stop a water loss from occurring.
To learn more about the device and coordinating mobile app – check out the 3 minute video below. Really interesting technology that has the potential to offer significant peace of mind!
Kristal Carpenter
Partner
The W&A Kristal Carpenter Agency