WATER DAMAGE Features
and then recommend an appropriate system to be installed. They offer a nationwide installation service through a network of approved installers or will work with a building’s existing managing agents and contractors to carry out an installation.
Premium service In one block of 30 luxury flats, the average water damage insurance claim for the previous two years was £250,000 per annum and at renewal the insurer imposed a policy excess on escape of water of £250,000 per claim. The insurer advised the property manager to meet with Leaksafe and following the installation of the company’s systems they immediately reduced the policy excess with a promise to review terms again at the next renewal date. During that period, nine leaks were detected and prevented, and there have been no insurance claims since installation, resulting in a reduction in premium that more than paid for the cost of installing the systems.
If you are interested in finding out an illustrative cost of installing Leaksafe systems in your building, complete the eight- question Enquiry Form you will find on our website at:
www.leaksafe.com/flats- apartments/ or contact Mark Shrosbree on 0844 848 0488.
Do you have one for your block?
According to insurers, water damage is the number one source of claims for owners of high-rise homes. Leaks can cause problems at any time of year and at any stage in the life of a building. So what can flat owners do to reduce the risk of costly claims for water damage in their block?
Leading insurer Zurich recommends residents put together a simple checklist to help prevent leaks. Obviously some types of water damage are unavoidable but it is worth taking precautions wherever possible. Taking action on this list of questions might help reduce the risk.
Are small leaks promptly repaired? Is the cause of any leak analysed to determine whether it was an isolated problem or a symptom of a system-wide failure?
Are residents asked to notify the RMC or property manager if any dripping or leaking pipes, overflows or clogged drains are noticed?
LEAK PREVENTION CHECKLIST
Is there close monitoring of outside contractors whose work may affect hot and cold water systems? Are there any liquid storage tanks or vessels inside the building or on the roof and if so, are they periodically checked for leaks?
Are pipe diagrams up to date? If not, they should be revisited, with all residents made aware of the location of shut-off valves and stop cocks. Are shut-off valves “exercised” (opened, closed and lubricated as needed) at least annually in order to check they can be turned off in an emergency?
Is someone immediately available at all times with authorisation to call and bring in a professional contractor in case of emergency?
If the answer to any of these questions is “no” then the issue should be raised with an RMC director or discussed with your property manager.
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