News Release: State Farm Insurance
Atlanta, GA., April 1, 2014 - In 2013, State Farm Insurance paid more than $1.3 billion for more than 175,000 water loss claims as a result of burst frozen pipes, flooded basements, and broken appliance hoses.
State Farm Spokesman Justin Tomczak said “Georgia ranked 3rd in the nation with over ten thousand claims, which cost almost $80 million dollars. The only other states with more water related claims are the much larger states of CA and TX. Today might be April Fool’s Day, but water damage is no joke in Georgia.”
The top 10 states with the most water-related State Farm claims in 2013 are:
Water losses are rising even though many of these accidents are preventable. Understanding what your insurance policy covers will help keep your head above water when there is a water loss. Reviewing your insurance policy annually with your agent can help you as the homeowner make an informed decision about adding coverage to your homeowner policy. Homeowner policies do not cover flood losses. Back-up of sewer or drain endorsement is an additional endorsement that may be purchased for covered accidental direct physical loss caused by water or sewage that enters through a sewer or drain that is located inside the interior of the home or building. It also provides coverage if water enters and overflows a sump pump well that is located inside the interior of the dwelling.
Maintenance of your home is vital when it comes to preventing water damage. Preventive maintenance can be cheaper and easier than tearing out and replacing the floor and subfloor because of an undetected leak from a toilet or pipe.
Suggestions for Regular Home Maintenance to Help Reduce Water Damage
Suggestions for Seasonal Home Maintenance to Help Reduce Water Damage
Sometimes water still gets in. If you have a finished basement, be aware of the dollars you have at stake if a sewer or drain loss occurs. To ensure that your belongings aren’t damaged, items stored in basement areas should be shelved or kept off the floor. Furniture should be on casters or shims and arranged away from floor drains. Don’t let water losses sink you. Remember that water will go where it wants, when it wants, so take care of problems immediately.