Extreme weather conditions, which promise to be on-going, are causing unprecedented damage to property, uncovering maintenance issues that have been neglected.
Houseowners need to be aware that the Insurance on their home, is conditional on the structure being well-maintained.
Examples:
“Our Parachute of Protection”
All kitted out for a weekend at their riverside holiday home, their high spirits were instantly dampened on entering the house.
“What’s that smell?”
“OMG, the carpet’s wet!”
“Look, the floor under the carpet’s wet too! Phone the insurance brokers. This must be a claim. Right?"
Wrong!
The slow ingress of water from around and under the foundation . . . rising damp . . . is not a single ‘event’ and is not claimable.
* * *
With the heavy seasonal rains, poorly constructed roofs, or valleys in roofs where water proofing has either not be adequately applied or regularly maintained, are starting to manifest problems.
Rectifying these problems is not claimable.
The purpose of a roof is to keep the elements at bay. Unless it is plummeted by hail stones the size of bowling balls, or subject to an onslaught by Hurricane Bheda, these are purely and simply maintenance issues.
* * *
The cable on their garage door snapped. Their first reaction was to phone their insurance broker. “Not covered?!! Why not? This is a single event. Why is it not covered?”
Besides the incident having to be a single ‘event’ it also has to be an insured peril. Metal fatigue or maintenance caused the cable to snap.
* * *
A boundary wall collapsed. The rain has been torrential so, yes, the insurance will cover the costs of rebuilding PROVIDED the wall was built according to building regulations in the first place.
No cover for collapsed fences, pre-caste walls and brick walls not built to building regulations.
* * *
Happily - and this is where our parachute comes in - the consequences of the above occurrences are covered once the underlining problems have been rectified for your account – a new carpet and skirting board; new ceilings and cornices and, if the garage door fell on your car, the repairs to your car would be covered.
In a simple one-liner, remember: The incident has to be a single event and it has to be an insured peril.