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Are Water Damage Claims Drowning Your Profits?

Are Water Damage Claims Drowning Your Profits

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Join us for this webinar led by Nancy Germond, President of Insurance Writer based in Phoenix, AZ.


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Duration 1 hour
Location Online Webinar
Formats On-Demand
Instructor Nancy GermondNancy Germond

According to some insurers, many water damage claims are "the new arson" of this decade. The fact is, about 14,000 people experience a water damage emergency EACH DAY, whether at home or at work. The average annual cost to insurers is estimated at $2.5 B for water damage and mold claims in the US. The average claims cost just under $7,000 from 2010 to 2014, according to the Insurance Information Institute. Yet next to wind and hail, water damage and freezing claims are the second most frequent homeowners' claims. This course will explore some of the ways insurers can mitigate water damage events pre-loss, mitigate post-loss, and investigate and defend the water damage claim. 

Course Objectives:

  • Plumbing 101 – Why water damage occurs
  • Understand the costs associated with water damage claims
  • Understand the tools adjusters can use to investigate the water damage claim and its validity
  • Discuss water damage and remediation experts needed
  • Plumbing 102 – mitigating losses before they occur with whole home plumbing inspections
  • How various carriers respond to loss scenarios
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