So your hot water system is starting to leak, and you’re wondering whether your insurer will cover it.
Good thinking!
In this blog, we will address some of the most common questions about home insurance and your hot water heater. We’ll also discuss warranties, how they differ from insurance, and which option is better for you. Keep in mind that each insurance policy is different, so use this article as general advice. Then, for the most accurate answer, speak to your insurance provider.
If you’re looking to purchase a hot water system, need service, or need a repair, Same Day Hot Water Services is here to help!
Yes.
Your home insurance will likely cover items, furniture, property, and parts of the building that a broken hot water heater has damaged.
Always check your cover and also check your provider’s terms and conditions.
How does home insurance work when it comes to hot water systems?
It will depend on your insurance, but homeowner’s insurance usually covers the cost of repairs or replacement of your hot water system if the damage is caused by a covered event (fire, flood, etc.). However, as with most appliances, an insurance company won’t cover a faulty hot water system or a failing unit due to age.
Contents insurance will cover damage to your property caused by hot water systems. For example, water damage from a broken or burst pipe might be covered by your insurance. Perils usually covered by insurance include:
Policies differ, so if you’re unsure, check with your insurance provider.
The main difference between insurance and a warranty is that insurance covers unexpected events and damage, while a warranty covers expected events like wear and tear. Here are a couple of examples to help illustrate the difference:
Keep in mind that there are ways to void a warranty or insurance coverage. This will usually come down to misuse or mistreatment of your hot water system.
It doesn’t provide more protection but rather a different type of protection. Just like insurance policies, the details of a warranty will vary case by case. However, as a rule of thumb, a warranty will cover malfunctions and issues with your hot water system. This may be in the form of covering the cost of repairs or a complete replacement, depending on the problem. A hot water system breaking is something you’ll notice in your day-to-day life, so it’s worth considering an extended warranty.
The expected cost of home insurance for your hot water system
The average insurance premium in Australia is $142.92 per month. This will vary greatly depending on factors such as your location, how many possessions you’re insuring, and the range of options the insurer offers. For a more exact number, talk to a few insurance providers and get a quote from each.
The two best ways to keep your hot water system in the best condition are to buy a quality product and keep up maintenance. Regular services allow your plumber or hot water expert to catch any potential issues early and keep every part of your machine in good nick.
Whether you need a service or a hot water replacement, Same Day Hot Water Services has you covered.
Same Day Hot Water provides expert service and hot water installations in most major Australian cities and sales Australia-wide (including: Sydney, Melbourne, Brisbane, Perth, Wollongong, Newcastle, Central Coast, Gold Coast, Sunshine Coast). We also offer fast delivery, a comprehensive range of hot water systems, and a 24/7 emergency plumbing hotline.
Give us a call on 1300 721 996 or click here to send an enquiry to our team. Otherwise, check out our range of hot water system types today.