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Home Appliances and Water Damage: Is Your Home at Risk?

Water damage comes in many different forms. Among the kinds of leaks that originate from inside the home, perhaps the most heartbreaking are from appliance failures.
Appliance failure is much more common than you might think, with appliance failures accounting for 30% of residential flood claims (Source). Understanding the most common points of appliance failure in a home can give you significant insight into how you can best protect yourself.
Dishwashers
Dishwashers have an average life expectancy of 7-12 years, with 20% of them expected to break down within 3-4 years (Source). Catastrophic dishwater failures resulting in water damage are typically caused by damaged supply or drainage lines. Water damage can also be caused by damaged dishwasher doors or door gaskets, allowing water to leak out from the front of the dishwasher while in use.
Refrigerators with Ice Makers
The water lines on ice makers within refrigerators can be easily damaged (particularly if made from materials such as copper or plastic), leading to the possibility of water building up under/behind the refrigerator. It is highly recommended to have these lines inspected annually.
Sump Pumps
Sump pumps have an average life expectancy of around 10 years (Source), which can be affected by the dirtiness and acidity of the water in the area (for reference, Toronto’s water supply is non-acidic). Sump pumps can fail for a number of reasons:
• Power outages
• Debris in the pump
• Clogged or frozen discharge lines
• The sump pit and sump pump sizes are mismatched (i.e. the pump is too small/large for the pit or vice versa)
• Missing or broken check valve on the pump
• Improper connections to the sewer system
Sump pump failure can lead to disastrous (and dramatic) results, as the first indication of a failure is often the room directly above the sump pump becoming flooded.
Toilets
Toilets are said to an average lifespan of 50 years (Source). Not surprisingly, the most common cause of water damage from toilets was overflowing/clogging. In fact, a recent study of water damage claims due to toilets found that one third was due to clogging and overflowing. Other common causes of toilet failure are damaged toilet components such as the fill, supply and flush valves as well as the supply line.
Washing Machines
Washing machines have an average lifespan of 5-15 years (Source).
Washing Machines are one of the top 10 leading sources of residential water losses in the US, with over half of all related claims being caused by a supply hose failure. The average age of washing machine failure resulting in water damage claims was 8.6 years.
Water Heaters
Gas water heaters tend to have a life expectancy of around 8 to 12 years, and electric water heaters tend to last 10-15 years, though this varies based on a number of factors such as regular maintenance, storage conditions, etc. (Source). They may fail due to leaks/cracks, rust or sediment build-up or inefficient heating elements leading to colder than expected water, with 69% of all water heater failures resulting in slow leaks or sudden bursts.
It is recommended to inspect water heaters’ shutoff valves and piping annually.
Water Monitoring – Eyes on Your Appliances
One of the best ways to watch for appliance failures is through intelligent water monitoring and leak detection systems, particularly with a shutoff at the water main. When an issue is detected, these systems can provide a remote and automatic shutoff, so you can minimize the damage to your home. Eddy’s solution offers ‘eyes’ on your appliances at all times, ensuring that your risk is mitigated.
Eddy Home is an industry leader in leak protection and water monitoring solutions. Our suite of smart products offers a comprehensive water management system for building operators and homeowners that protects, controls, and conserves water. Our products have saved thousands of customers millions of dollars in damages and millions of litres of water waste by continuously monitoring water usage in their properties. For more details, please contact us at 1 877 388 3339 or email info@eddyhome.com.

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Paul Pathak​

Director

Paul Pathak is a partner of Chitiz Pathak LLP. Paul practices principally in the areas of corporate, securities, corporate finance, mergers and acquisitions and commercial law. He represents and provides sophisticated guidance to private and public corporate clients in a broad range of industries, including mining, technology, manufacturing, venture capital and merchant banking.

George Krieser​

Director

George Krieser founded Total Credit Recovery Limited (“TCR”) in 1980 and is the President and Chief Executive Officer. TCR is the largest 100% Canadian-owned and operated collection agency, solely collecting Canadian debt. George previously served as a Director of Universal Energy. He also served as a member of the board of directors of Baycrest Foundation and as a member of the fundraising committee for UJA Federation of Greater Toronto.
Gary Goodman​
Director
Gary Goodman is a Trustee and Chair of the Audit & Risk committee of Boardwalk Real Estate Investment Trust., a former Chairman of Huntingdon Capital Corp., trustee of Gazit America & Brightpath Early Learning, and is a member of the advisory boards of the Vision Funds. Gary was previously Executive Vice President of Reichmann International where he served as a senior financial executive and trusted advisor for over 30 years.

Chris Gower

Director

Chris Gower started his career in construction on the tools – framing houses, where he grew a deep appreciation for the trades. Prior to his current role as Chief Operating Officer, Buildings at PCL Construction (“PCL”), Chris held positions including construction risk manager, senior project manager, district manager and regional vice president. Throughout his more than 25 years at PCL, he has delivered iconic construction projects across Canada, Australia and the United States.

June Thomson

EVP, Sales, Marketing
& Business Development

June joined the Eddy team coming from Enercare after 10+ years in various roles, most recently as Vice President of the North American Builder Division. June has been in the HVAC industry for over 41 years, holding several roles throughout her career from Technician to Provincial Offences Officer.

Saj Khan

COO & President

Sajid Khan helped launch Eddy Solutions and has been in the role of Chief Operating Officer since inception. With more than 20 years of leadership and operational experience in the home services sector, Saj has held roles such as COO of Eco Energy Service, Vice President of Operations at both National Home Services and Universal Energy.

Boris Baril

CFO

With more than 25 years of financial experience, Boris has held both public and private company CFO roles; supported two (TSX listed) initial public offerings (IPOs), debt and equity capital raises, and M&A transactions. Boris graduated from York University and is a CPA, CA.

Mark Silver

CEO & Chairman

Mark L. Silver is President of Optus Capital Corporation. Mr. Silver has made significant real estate investments in both development stage and income producing properties in the residential, commercial and industrial sectors over his 35 year business career. Over the last 22 years, these investments have been made through his company, Optus Capital Corporation. Mr. Silver was a founding partner and Chief Executive Officer of Universal Energy which was sold in 2009 to Just Energy Group Inc. He co-founded Direct Energy Marketing and grew the company to over $1.3 billion in revenues before selling to Centrica PLC (also known as British Gas) in 2000.