11/22/2011 - Water repair costs may be homeowner’s responsibility
A new survey finds that a considerable percentage of adults are unaware of whether or not they had to pay for water line repairs to their property.
According to GfK Roper Custom Research, less than 50% of homeowners polled knew that they were responsible for costs involving the repair of a water line to their home, such as one that burst somewhere between their house and the street.
Tom Rusin, CEO of Home Serve USA, an emergency repair service, said homeowners often mistakenly believe that their local utility company pays for these types of costs.
"One of the challenges of home ownership is that the potential for expensive repairs is always out there," said Rusin. "The fact that homeowners don't know about their responsibilities in these situations serves to make unexpected and expensive repairs harder to handle."
He added that repairs to a water line can typically cost a homeowner as much as $2,000.
If homeowners are unfamiliar with what repair costs they must shoulder and which ones are covered under property insurance, they may want to review their policy or talk to their agent. Talk to your independent agent today to make sure you’re covered when instances like these happen.