Does Home Insurance Cover Water Heater?

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With the potential joy of converting an unfinished basement into a warm and inviting living space, comes the possibility that something like water damage could occur due to a faulty water heater. Homeowners need to consider whether they will incur costs should this type of calamity happen in their home.

Water damage can be a homeowner’s worst nightmare, with approximately 48% of all home insurance claims in Canada to blame. Make sure you’re not caught off guard by taking the necessary steps to protect your property from flooding and other water-related mishaps!

Damage Caused by a 10 Years or Older Water Heater

Homeowners should be aware that water damage caused by an aging water heater may not be covered under their standard insurance policy. It’s a smart idea to check with your provider and make sure you are protected, especially if the tank is over 10 years old – just in case!

Canadian insurance companies consider an old, failing water heater to be the responsibility of the homeowner rather than a covered incident. Though hot water tanks typically last 8-12 years with proper maintenance, sometimes even that isn’t enough – making it important for Canadians to be aware and prepared in case they need to replace theirs.

With the right insurance policy, you may have protection against flood damage to your basement – but don’t forget to check with your provider on if it covers the cost of replacement!

Water Heaters Are Dangerous if not been Well Maintained

Hot water tanks carry a hidden risk – as they age, their bottoms can simply rust away! When this occurs, an enormous flood of water is unleashed into the basement and if no main floor drain exists nearby it can spell disaster. Be sure to check your tank regularly so you don’t fall victim to these potentially destructive floods!

A burst water heater can mean more than just costly repairs – in a flash of an instant, your carefully-crafted basement could be reduced to a sopping mess. What’s worse? The inconvenience caused by the lack of hot showers and no way to tell when it’ll end. Disasters like this are always surprising – but one thing’s for sure: prevention is key!

What About New Water Heaters?

Are your appliances young enough to be protected from the perils of water damage? If you’ve installed a new heater within the last 2 years, then rest assured that it may just be covered in case of any pesky leaks.

Your water tank could suddenly spring a leak, leaving you with costly repairs – unless you have the foresight to include appropriate coverage in your insurance policy. Without it, such damages can quickly empty your wallet! Make sure to check if your existing plan provides protection against unfortunate events like these before disaster strikes.

Check With Your Insurance Policy, and Have Your Water Heater Inspected

Taking the right steps now could help you avoid a costly disaster down the road: make sure your insurance coverage is up to date and have an expert take a look at that water heater – trust us, it’s worth it!


How much to Replace a Water Heater?

From the type of water heater to labour costs, replacing a hot water tank in Canada can be complex. Get an idea of how much it will cost by talking to local plumbers – having this information beforehand is invaluable!

  • Yellow page For the average project, $850 of materials and labor totaling $315 are needed to reach completion. This equates to a 73%/27% split between the two – an investment in both supplies and effort!

*Image by Freepik

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Vik Palan

Vik Palan

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