Containing risk for homeowners and renters due to water damage through a renovation

unintentional water damage an overlooked risk

In November and December 2021, Chubb surveyed US and Canadian homeowners and renters to understand their decisions around renovation projects and potential water risks. The survey results indicate that 53% of homeowners and renters experienced a loss or unintended damage to their home during renovations.

How to protect your investment through a renovation project

Here are a few suggestions on protecting your renovation project (and investment).

  • Install a water shut-off device for the home. Make sure home-owner, renter are aware of its location in case of emergencies;
  • Set up an IoT (Internet of Things) setup with sensors and connections to your shut-off-device so as to do remote shut offs upon detection of water leaks;
  • Hiring a contractor is recommended for the home renovation vs a DIY job, especially when it comes to a major renovation with potential for water leaks;
  • Increase your insurance coverage based on the potential for leaks through the renovation.

How can Dwello help protect homeowners and renters from unexpected damages

Dwello is a partner to landlords, property managers and renters alike. One of the ways we bubble up cost savings opportunities is by partnering with insurers and delivering offers to Dwello users at rates that are better than the rates in the open market. Sign up today, for free, and see what works best for you. Or drop us a note through the form below and see how we can best support you.

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