Water damage claims are one of the most common kinds of home insurance claims. In fact, many home insurance carriers will decline to insure homes with the old galvanized plumbing, which is still commonly found in homes built before about 1985 which have not been updated.
Why do only a small proportion of insurance carriers accept this old kind of plumbing? Well, it all comes down to risk, of course. Galvanized plumbing is prone to corrosion, and statistically it is much more likely to cause an expensive home insurance claim when compared to more modern PVC piping.
Unless you have a very high value home, the chances are that your insurance company will carry out an exterior only inspection when agreeing to insure your home. So they won’t know if your plumbing is galvanized or not – it is up to you to tell your agent when you are purchasing your policy. If you’re with a carrier who doesn’t accept galvanized plumbing, and you have a water damage claim from a burst pipe, your insurance carrier may deny your claim.
This is one reason why it is very important to contact an independent agent who will work with you to select the right kind of policy for your home. But don’t worry – the licensed agents at Memorial Insurance will ask you all the right questions to make sure you are correctly covered!
We are slap bang in the middle of hurricane season, and while there are no storms on the Texas horizon – yet! – it definitely pays to be prepared with the phone number for your insurance company’s claims department.
Updated claims numbers for all our carriers are listed below. Before picking up the phone, make sure:
1) That what you are claiming for is covered by your insurance policy, and ….
2) That the amount of the claim is likely to exceed your deductible (if in doubt, get an estimate from a contractor)
Above all, remember that your account manager at Memorial Insurance Agency is here to help you. If you have any doubts about whether to file a claim, call us FIRST!
Good luck and fingers crossed for the rest of hurricane season!
Still unsure whether an independent insurance agent is the best way to go for your home, auto, umbrella, flood, renters, or rental property insurance? Read below!
You save money: The difference between your current policy and the best option available in the marketplace can be hundreds or even thousands of dollars per year. Put your independent agent to work finding the best policy for you!
You have more choice: Let’s say you are shopping for homeowners’ insurance. An independent agent has many companies to choose from (Memorial Insurance has more than 22!), whereas a captive agent – such as State Farm – has just one. Who is more likely to be able to offer the most suitable policy at the lowest price?
You get better discounts: New roof? Got married? Improved credit score? If you stick with the same policy for years, you run the risk of missing out on savings if no one is checking. Your independent agent will review your policies annually to make sure you’re receiving all possible discounts.
You stay under one roof: Life is easier when you have your home, flood, auto, boat, umbrella, and rental home policies all in one place with someone you know.
You make informed choices: Unsure about whether to file a claim? Don’t know what is covered under your policy? Your independent agent will make sure you’re not missing any essential coverage, as well as providing guidance and advice. There are no 1-800 numbers here …. you just call and speak directly to someone who knows you.