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Report: Homeowners don't know their repair liabilityPosted On Fri, September 30, 2011
A recent report from HomeServe USA and GfK Roper Custom Research showed that less than half of homeowners are aware that they have to pay for any damage to their water line on their property even though they don't know it.
The water line can be affected by earth shifts, aging and temperature changes. Typically, consumers do not know about water line breaks until long after, when their bill is very high due to it. Repairs are very expensive, and can cost as much as $2,000.
"One of the challenges of home ownership is that the potential for expensive repairs is always out there," says Tom Rusin, chief executive officer of HomeServe USA. "The fact that homeowners don't know about their responsibilities in these situations serves to make unexpected and expensive repairs harder to handle."
Homeowners who are worried about expenses such as water line breaks may want to make sure that their home insurance covers such events. If it doesn't then it is important for many consumers to look at cheap insurance quotes to find an option that will cover their needs.
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