Residentsline Flats Insurance
Water Damage - Actions to Take Have you ever looked at your insurance renewal documents to find your Buildings premium has risen well beyond inflation? Often the increase is due to the cost of your claims - but you CAN do something about it.
How to reduce the risk of water damage First – ensure all pipes and tanks exposed to winter temperatures are well insulated, then:
Risk Management is the key to reducing claims and also to maintaining or reducing your insurance premium. Water damage accounts for around 75% of insurance claims in flats and apartments.
• Be aware of the equipment and installations in your block that are capable of causing a problem, for example, boilers, showers & washing machines. Guidance should be put in place for all residents to ensure regular checks are carried out as part of a planned preventative maintenance programme.
It generally occurs following inadequate maintenance leading to corrosion of internal and external pipework, leakage of copper pipe or failure of plastic pipe joints, poor maintenance of seals around bath and shower areas, and accidental damage to hidden pipes.
• Advise all leaseholders on what to do in the event of a leak, how to isolate their water supply or shut down central heating systems etc. • Ensure all leaseholders know where the stop cocks are located. These should be accessible and easily turned. Stop cocks can seize due to minimal usage. • Only use approved contractors when maintenance, repairs or replacement works are carried out. In your kitchen and bathroom • Check appliance inlet and outlet fittings annually. • Clean door collar seals on washing machines and dishwashers, replacing any that are damaged or worn. • Annually check that the seal around your bath and/or shower is watertight. • Don't allow your bath to overflow! • Ensure plugs are not in the drain holes when not in use. • Replace washers in leaking taps and overflowing cisterns as soon as possible. • Ensure overflow pipes can release water effectively.
Authorised and Regulated by the Financial Conduct Authority: FRN 305998. Residentsline is a trading name of Residentsline Limited. Registered in England & Wales CRN 3874789. Registered Office: 3rd Floor, St. David's Court, Union Street, Wolverhampton, WV1 3JE.
0800 281 235 info@residentsline.co.uk www.residentsline.co.uk