When you buy a property, it is most likely that you need to get the appropriate insurance coverage for it because this will provide you with the proper protection that can help you cover your losses in cases of unfortunate incidents. However, there are homeowners who also make sure to acquire plumbing insurance as added protection. More often than not, these property owners are landlords who have a number of properties being occupied by various tenants. Regardless of whether you are a landlord or not, here is everything you need to know about plumbing and drainage insurance.
Plumbing and Drainage Insurance Coverage
The coverage of your insurance depends on your specific policy. Nevertheless, the insurance policy can cover a wide range of problems which include burst pipes, as well as blocked drains. The former can be considered as a plumbing emergency while the latter can be resolved whenever scheduled. This insurance policy can also cover water supply pipe leaks which can also constitute a plumbing emergency depending on the severity of the leak.
There are certain insurance policies that mostly cover drainage issues. In this case, the policy covers the clearing of these blocked drains, as well as repair and replacement in case of visible physical damage. More often than not, policies specifically intended for blocked drains also cover emergency repairs in case of any damage that occurs in the underground pipes. However, these policies may still vary from one policyholder to another which is why it is a good practice to carefully scrutinize and review the contents of an insurance policy.
For a standalone plumbing and drainage insurance coverage, only repairs in your plumbing and drainage, as well as in your water supply pipe are covered. However, there are certain insurance policies that allow add-ons to expand your insurance coverage. For instance, a plumbing and electrical insurance policy will have you covered in case you encounter issues with your electrical too, while a plumbing and heating insurance policy will also cover the repairs in your gas boiler, boiler service, gas central heating, as well as your gas supply pipe. There are also policies that cover all of these scenarios.
Is plumbing and drainage insurance coverage worth it?
In case you are a homeowner or a landlord with a detached property, then you are held responsible for any necessary repair or maintenance of your drains. On the other hand, if you live in a building or a flat wherein there is a lateral drain, or pipes that are shared between multiple homes, then maintaining the drainage system is a shared responsibility. In this case, a plumbing and drainage insurance coverage will be worth it for property owners with a detached home where the maintenance of the drainage system is their sole responsibility.
With a plumbing and drainage insurance policy, you will be able to cover the expenses when your drainage system becomes blocked or damaged unexpectedly. In case you fail to get an insurance policy to cover these kinds of problems, then there is a great chance that you will need to shell out a hefty sum to have the issue fixed. If you want to avoid this scenario, then it is best for you to get the proper insurance policy.
The Bottomline
Make sure that your property has sufficient insurance coverage to ensure that you are covered from unforeseen losses due to unexpected situations. As much as possible, leverage plumbing and drainage insurance for you to have an additional level of protection particularly from various kinds of plumbing problems. Rest assured that with ample insurance coverage, you will have peace of mind because your property is fully covered.
