Home or condo owners – you could be on the hook for the replacement of Kitec plumbing.
There’s a plumbing crisis right now that may affect your home. If you have Kitec plumbing in your home, you are at significant risk of it failing, resulting in not just leaks but major flooding.
Kitec plumbing, a popular and less expensive alternative to copper piping, was installed in a considerable number of North American homes and new condo developments from 1995 to 2007. Due to insurmountable product malfunctions, Kitec was pulled from the market in 2005, with a class action suit settled in 2011.
Experts state that the malfunction of Kitec is guaranteed, as the piping is not built to withstand high heat (temperatures of more than 180 degrees F) and pressure. As a result, insurance companies have either refused coverage outright, increased deductibles, or limited coverage to property owners with Kitec plumbing installed in their homes.
How do you know if you have Kitec in your home?
While the name “Kitec” is the most common brand of Kitec piping, there are a number of other brands out there. They include: AmbioComfort, AQUA, KERR Controls, IPEX, Plomberie Amelioree, PlumbBetter, WarmRite, and XPA. In addition, Kitec was offered in multiple colours, including blue, red, and orange
I have Kitec – what should I do?
It’s a good idea to take action quickly to plan for the inevitable failure of this type of piping. First, you’ll want to register your name and information with the Kitec Settlement website. A class action suit was launched in the US and Canada, and recently settled for $125 million, with approximately $100 million allocated for end consumers. The website explains:
“ALL PERSONS THAT OWN, HAVE OWNED, LEASE, OR HAVE LEASED, AND ALL THOSE WHO HAVE OR MAY PURSUE CLAIMS THROUGH OR IN THE NAME OR RIGHT OF THEM, BUILDINGS, HOMES, RESIDENCES, OR ANY OTHER STRUCTURES IN THE UNITED STATES AND CANADA THAT CONTAIN, OR AT ANY TIME CONTAINED, KITEC PLUMBING SYSTEMS AND/OR COMPONENTS.” (Source)
The settlement fund is set to be distributed by January of 2020; however, it is estimated that given the sheer volume of those affected and the related replacement costs, most consumers will receive little if any monetary relief through the fund.
If you’ve recently purchased a property with Kitec, the sellers should have disclosed this information to you. Contact your real estate broker immediately to discuss options.
Next, you should inform your insurance company about the discovery. Square One Insurance Services explains:
“Determine what type of plumbing you have in your home, and be honest with your insurance agent. You don’t want to have coverage denied in the event of a loss because incorrect information was supplied at the time of application.” (Source).
You may consider a few different options:
1. Replace your Kitec Piping. Unfortunately, this is costly, and cannot be claimed through your insurance. Replacement costs are estimated to run between $5,000 to $15,000 depending on the size of the home or unit.
2. Sell your home/condo. Some home/condo buyers are willing to replace the piping as part of a purchase deal. Further, real estate brokers may be able to help. The “Kitec Crusader” has offered to purchase properties to help affected homeowners.
3. Install a leak detection system that includes a water shutoff. While we feel this is imperative for every home, those affected by Kitec plumbing will need to know the moment a leak is detected so they can shut off their water and prevent catastrophic damage. Eddy’s technology, including our H2O sensors and IQ offers significant protection for a homeowner right now, while you are weighing your options. We also provide special discounts to property owners affected by Kitec.
As a property owner with Kitec, you will have to act to protect your property and belongings. Whatever your situation, know that support is available for you. For more information about how Eddy can help, contact us today at 877 388 3339 or email@example.com.
About Eddy Home
Founded in 2014, Eddy Home is an industry leader in leak protection and water visibility solutions. Our suite of smart products offers a comprehensive water management system for homeowners that protects, controls, and conserves. Our products have saved thousands of customers millions of litres of water by continuously monitoring water usage in their home, and if something unusual is detected, alerting them to the issue. For more details, please contact us at 1 877 388 3339 or email firstname.lastname@example.org.
TORONTO, Aug. 25, 2022 /CNW/ – Eddy Smart Home Solutions Ltd. (formerly Aumento Capital VIII Corp.) (“Eddy” or the “Company”) (TSXV: EDY) released its unaudited financial statements for the three and six months