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Home insurance property damage claims are becoming more frequent and contributing to rising insurance premiums. According to Canadian Underwriter, “the average cost of home insurance has grown at a rate more than three times that of inflation over the past decade.”
Here is how to help prevent common insurance claims with spring home maintenance.
According to Insurance Business Canada, “government figures have shown that water-related events – including flooding – have surpassed forest fires as the top cause of property damage in Canada in the past several years, costing homeowners more than $1 billion in losses annually.”
Spring home maintenance that can help prevent insurance claims includes these simple tasks:
According to Bank Rate, “the most frequent type of homeowners’ claims are those caused by wind and hail (34%), followed closely by fire and lightning claims (32%).” You can reduce the risk of common home insurance claims related to fire with some home maintenance in the spring:
Slip and falls are a common home insurance liability claim. Check walkways and driveways for cracks or damage that makes them uneven. Repairing tripping hazards can prevent a home insurance claim later.
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