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!