Whether you live in a condo or a single-family home, the potential for water damage is real and the issue is a serious one. According to TD insurance, 40% of insurance claims[i] are due to water damage. In addition to significant damage and repairs, water leaks often result in higher water utility bills[ii], as accumulated water charges (as a result of leakage) are significant.
While it is important to be insured against these water damages, there are tools and technology to monitor, mitigate and avoid water damage and leaks. Eddy offers tools and solutions that protect your homes and commercial properties. Not only do these tools save you time and money, but also provide you with the peace of mind that you deserve.
Pemberton Group, the GTA-based multi-residential developer, has significantly benefited by leveraging Intelligent Leak Protection from Eddy Solutions, protecting their properties during all phases of development while transitioning the handover to the Condominium.
In February, Eddy’s IQ meter detected abnormal flow on the heating and cooling water makeup, rising from 11.9 L/minute to almost twice as much. The system sent an alert and triggered the valve to shut down. If the abnormal continuous flow had not been detected in time and the valve was not shut down, then the resulting loss of water would have amounted to almost 30,000 liters by morning.
The water that was saved is just part of the story. Imagine the amount of damage that 30,000 liters (which is the amount of water it takes to fill your average home’s swimming pool) can cause to your property. Later investigation showed that the cause of the leak was a hydronic unit heater located by the vestibule, where a pipe had burst within the wall. The duration of time from when the leak was detected to when personnel could investigate and fix the leak would have meant major damages.
The very next day, there were two more incidents of pipes freezing in the breezeway that resulted in further leaks. Both these leaks were detected immediately and the valves were shut-off immediately saving another 30,000 liters of water and prevented extensive damage from happening. On 2 out of 3 occasions, the incident happened after work hours and the incident could be investigated the next morning. Without a mechanism to stop leaks when they occur, the damage could be severe. The Eddy Home App in your mobile and the Eddy Dashboard place the power in your hands to monitor water usage, remotely shut off your water, and make informed decisions to protect and save.
Proactively managing water risk could save a lot of money, time, and effort. These incidents are proof that we can always stay a step ahead with tools that aid us with real-time access to issues, and prevent major damages before they can happen.
About the Author: Parthi Radha
Parthi Radha is a marketing professional and is currently working with Eddy Solutions as an Events & Digital Marketing Specialist.
In the dynamic world of property and builder’s risk insurance, the industry faces mounting challenges, particularly from water-related damages, a predominant cause of property claims. This scenario has compelled insurers