Fix Your Toilet - Save on Homeowners Insurance

The best way to save on your homeowners insurance is to never make a claim. Like all insurance, your premium is based on how much of a risk you are. If you've made a claim in the past, you're likely to make one in the future, at least statistically speaking. So if you never make a claim you will always get the best rate available.

Of course this is not very practical advice. The reason you have insurance is to pay for damages in the event something unexpected happens. So a more practical piece of advice would be to do everything you can to prevent the unexpected.

Water Damage

One of the most frequent claims made is for water damage. Whether it's a leaking roof, a broken pipe or a ruptured water heater, water damage can be a very costly problem. Often, the homeowner doesn't know there's a leak for days, weeks or even months. Maybe that small yellow stain on the ceiling that you've only recently noticed is getting bigger. Or that faint hissing sound you only hear at night when you're in bed is now keeping you up. Maybe it's that musty smell in the hall closet that you can't explain. Under the right conditions, your walls and ceiling can hold a lot of water before it becomes noticable. In many cases, thousands of dollars in damage could have been avoided through routine maintenance and just by being observant.

Noisy Toilets

Everyone at some point in their life has had a toilet that wouldn't stop running. Most of the time its simply a worn out flapper. This is a part you can change yourself for about $5. If you choose not to replace it you can safely ignore it. Aside from being annoying and wasting water, it won't cause any damage. However, your toilet could also be running continuously if the tank is cracked. This would mean that water is leaking out. If your toilet starts doing this, don't ignore it for a few days and assume it's no big deal. Visually inpect the area around the toilet for water to determine if this is the case. If it is, turn off the valve to that toilet and call a plumber.

Water Heaters

Water heaters also pose a problem. Sometimes they last for many years, sometimes they only last a few years. It's really hard to tell when one will go. Sometimes they will have a lot of rust--a tell-tale sign that it's about to go, but not always. One thing you can almost always be sure of is it will make a mess when it does go. If you're lucky, it will develop a slow leak. At the first sign of a leak, close the valve that feeds water into the tank, call a plumber and prepare to replace it. If you're not lucky (and many are not), your water heater will rupture, spewing the 40 or more gallons in its tank on your floor. And while the valve remains open, water will continue to pour into the broken tank. If you see this, again, close the valve and call a plumber.

There's not much you can do to prevent your water heater from rupturing except a visual inspection occasionally. Look for rust, moisture or signs of leakage.  Although the lack of rust and leakage does not guarantee everything is ok, if you do find these it's a sure sign that something is wrong. Also, check your warranty. Water heaters frequently seem to go within a year after their warranty ends. If you're a few years past warranty, you may want to consider replacing it even though it's not giving you any trouble.

Frozen Pipes

If you live in a part of the country susceptible to frozen pipes, you may want to consider adding pipe insulation if you don't already have it. You may also consider pipe heaters. These are both relatively easy to install. Many fozen pipe claims occur when people go away on a winter vacation and turn off the heat in their house. Worse than the surprise of returning to a house with six inches of water on the floor is being told by their insurance company that the damage was due to negligence and, therefore, not covered.

What To Do

First and foremost, locate your main water shut-off valve. If you don't know what this looks like, ask a friend or neighbor or your local water department. Make sure everyone in your household knows where it is and how to shut it off. In the even of a leak that can't be stopped by other means, turning off the main valve is sure to stop it until a plumber arrives.

There are also other preventative measures you can take, but these can be expensive. Water detectors that sound an alarm when water is present are inexpensive and can alert you before certain leaks cause too much damage. For under $15 each, you can place these near water heaters, toilets, under sinks and anywhere else you think a water leak may develop. If a leak develops and this detector finds itself in a puddle, it will sound an alarm. Of course you will have to be home to hear it. Better still are water sensors that will actually turn off your main water supply if they detect a puddle. This works great even if you're not home. These systems are pricey, starting at around $400, plus installation.

If you find yourself replacing your water heater, for about $15 you can buy a pan to place under it to catch water that drips. Building codes in some parts of the country require these under certain circumstances. But considering the low cost it's a good idea to get one even if your local building code does not require it. You may also want to look into buying a tankless water heater. These do not have a tank so they are less likely to leak or rupture. They also have many other advantages. They do cost a lot more than typical tank-type water heaters though.

Saving on Homeowners Insurance

Preventing problems before they occur can show your homeowners insurance carrier that you are a low risk to them and worthy of a low insurance rate. It also saves you the hassle of dealing with major repairs. Some insurance companies may even offer discounts for having preventive devices like water detectors in your house. Check with your agent.

Whether you've made claims in the past or not, you can save on homeowners insurance by comparing homeowners insurance quotes from multiple companies. If you're ready to compare homeowners insurance quotes, we have a fast and easy way to do it. Simply fill out our easy online form and we'll get you quotes from up to eight home insurance companies.