As the cost of living continues to rise in 2023, we are all looking for ways to reduce our household costs.
When it comes to your insurance costs, the best way to keep your premiums low is manage your risks and adopt simple measures that can help to prevent you needing to make a claim, or ensure that you receive the maximum payout from your insurer should you need to make a claim.
When it comes to home insurance, you will generally be covered for a wide range of events such as storms, fires, floods, burglaries and more. But if you experience ongoing damage caused by general wear-and-tear or lack of maintenance to your property, this can result in your insurance claims being knocked back, or receiving reduced payouts and paying higher premiums for cover in the long term.
One thing we encourage all home owners to check are the Flexi hoses in their home.
What are Flexi hoses?
Flexi hoses, also known as flexible hoses or braided hoses, are commonly used in homes and businesses across Australia. They provide a convenient solution for connecting water supply lines to various fixtures such as taps, toilets, washing machines and dishwashers.
Flexi hose risks
While flexi hoses offer flexibility and ease of installation, they can also pose risks if not properly maintained. Flexi hoses are susceptible to wear and tear, which can lead to leaks or, in worst cases, burst hoses which can result in water damage, property destruction, and costly repairs. Common causes of flexi hose failures include age-related deterioration, excessive water pressure, improper installation and poor-quality materials.
Most home and contents insurance policies in Australia cover water damage caused by burst flexi hoses. However, multiple claims related to such incidents can result in your home insurance premiums increasing or if the flexi hose is poorly maintained an insurer may try to trigger a wear and tear exclusion to your insurance policy. Many insurers will consider the frequency and severity of a customer’s claims when determining their premiums, and therefore could consider recurring water damage claims as a result of failed flexi hoses as indicative of insufficient maintenance or negligence by the homeowner.
By regularly maintaining and replacing flexi-hoses within your home, you are not only protecting the safety and integrity of your property, but you are also reducing the risk of needing to make claims associated with flexi hose failures, which can positively impact your insurance premiums in the long-term.
Ways to maintain Flexi hoses:
• Regular maintenance: check for early signs of wear and tear, such as cracks, bulges, or corrosion, which can indicate an impending failure. Detecting these issues early allows for timely replacement, preventing catastrophic water damage.
• Water Pressure Monitoring: Proper water pressure regulation is crucial for the longevity of flexi hoses. Excessive pressure can strain the hoses, making them more prone to leaks and bursts. Regularly monitoring water pressure and installing pressure-limiting devices can help mitigate this risk.
• Professional Assistance: Engaging a qualified plumber or maintenance professional to inspect and replace flexi hoses can identify potential issues and ensure proper installation, minimising the risk of future failures.
To find out more about which home and contents insurance policy is best for your home, contact our team of qualified insurance brokers today.