What’s Your Eddy IQ? Water Damage compared to Theft

Nadine Evans

Playing ‘What’s Your Eddy IQ’ is always a fun game at Eddy! This week, we asked our Facebook followers: True or False? You’re three times more likely to have water damage in your home than a theft.”

Now, this one should be fairly easy, if you’ve been paying enough attention. The fact is that water damage is the greatest risk to a home, overtaking all other types of risks. The Canadian Institute of Actuaries report details all types of claims, and water accounted for 48%. Theft accounted for much less than this. In fact, a water damage claim is nearly 3 times more likely to happen than a theft – a statistic that will likely surprise most homeowners.

Not our Facebook followers, though! Nearly all of our participants responded with ‘True’ – demonstrating that they are learning more and more about the threat of water damage to homeowners and condo owners alike. Eddy Home has written extensively on this subject – visit our article “Home Flood Protection in Ontario,” and “Revolutionizing the Residential Water Protection Market,” providing education on the topic and tips on how to prevent water damage and protect your home.

Thanks to all who played our weekly “What’s Your Eddy IQ”, and remember to join us on Thursday, where once again, we’ll be testing your knowledge on all things water, water damage, and IoT/smart home!

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 info@eddyhome.com.