Plumbing Insurance
Insuring your plumbing is a good idea for many reasons, but it’s important to weigh the pros and cons before making a decision. The main issue is whether or not it’s worth paying for cover that may or may not pay out in the event of an emergency. The cost of the insurance will be partly dictated by the level of coverage you choose, and also by the number of exclusions in the policy.
It’s worth remembering that insurers usually only pay out for sudden accidental damage, and they typically don’t cover routine maintenance like replacing aging pipes. For example, say you have a slow drain that’s gradually getting worse over time. It could eventually cause a pipe to burst, causing thousands of dollars worth of damage. However, your homeowners insurance will probably not cover this because it was a result of neglect rather than a sudden accident.
Similarly, many home warranty companies exclude coverage for clogged drains and pipes. Even so, if you have a clogged drain that results in water flooding your house, you might be able to get a refund from the warranty company if you prove that it was caused by a sudden accident.
Is Plumbing Insurance Worth It?
When choosing a plumber, it’s worth checking their credentials to ensure that they have the experience and training necessary to do the job properly. Ideally, you should find a tradesman who is a member of a professional body such as the APHC or CIPHE. Those trade bodies encourage high standards of both technical ability and customer service, so they’re a good sign that you’ll be dealing with a reputable and reliable plumber.
It’s also a good idea to check the customer reviews of any plumbers you’re considering. A quick Google search will reveal any bad or poor experiences that other customers have had, and this can help you to make a more informed decision about who to hire. You should also look at the ratings and reviews on trade websites such as Angie’s List and the Better Business Bureau.
While it’s not as important as a good technical knowledge of plumbing, customer service is still a key factor when choosing a plumber. After all, if you can’t communicate effectively with your customers, then it won’t matter how well you understand and carry out the work.
When it comes to is plumbing insurance worth it, the answer is probably yes, as a specialist policy can provide peace of mind and protection against the potential cost of expensive repairs or replacements. It’s worth keeping in mind that the average claim from a home warranty company for a burst pipe or other plumbing problem is usually far less than the thousands of dollars often quoted by the warranties themselves. However, the cost of the cover will depend on the coverage limits and exclusions in your policy, so it’s a good idea to shop around before making a decision. The most comprehensive policies tend to come with a higher premium, but it’s certainly possible to find competitive prices for a robust protection plan that will cover you in the event of an emergency.