While cooped up at home during the coronavirus pandemic, one of the last things a homeowner would want is a leak in the pipes. Besides being a hassle, major water damage can be crushingly expensive: the average insurance claim is $10,234. If homeowners invest in a leak detection system, however, they can use the system to monitor the home’s pipes. The unit identifies leaks and alerts homeowners to the situation before it gets worse. From $100 units to systems that cost over $1500, choosing the right model for a home can be a daunting task, but one plumber shares his tips for finding a system perfect for your next project.
Water damage ranks as the third leading cause of homeowner loss, according to the Insurance Information Institute, and the third most expensive, with an average $10,234 claim, based on the trade group’s latest figures.
If you’ve had water damage in your home, or in a rental property you own, you know how disruptive and stressful the clean-up and restoration process can be. If there were a way to detect a potential problem source before it caused damage, would you try it? Would your insurer provide a discount for doing so?
The answer to the first question is probably yes. If a small cost lets you identify leaking pipes or hoses and running faucets before they create a flood, there’d be little reason not to do so. A leak detection system can help you do this. Basic models without shut-off capability start at less than $100. Professional grade systems can cost $1500 or more, which is still lower than some single year deductibles. There are many systems in the middle of the price range, depending on the capabilities you want and need.