Why do I need home systems protection?
Property policies typically exclude loss or damage caused by:
- Electrical and mechanical breakdown, and,
- The tearing apart, cracking, burning or bulging of a steam or hot water heating system or air conditioning system
- Are included in the purchase price, but only cover manufacturer defects.
- Are limited to a specific product or part, for a short period of time.
- Not all replacement parts or labour are covered.
- Cover equipment breakdown during ordinary use over a specific period of time.
- Do not cover breakdown caused by human error such as faulty installation, operator error or lack of maintenance.
- Are expensive - around 20% of the product cost; and typically expire after 3 to 5 years.
- Cover routine maintenance and repair to equipment such as heating, cooling or plumbing.
- Cover only a limited range of parts.
- Will not replace complete units.
- Plumbing service contracts will not cover loss or damage from the breakdown of water or sewage service lines.
Home Systems Protection offers broad coverage, at a much lower cost than warranties and service contracts.
- Direct damage caused by the sudden or accidental, mechanical or electrical breakdown to any home system, - including heating, cooling, appliances and electronics - no matter how old.
- Loss of use, or additional living expenses if a home becomes uninhabitable.
- Spoilage of perishable food.
- Pays efficiency incentives, up to 150%, for upgrades to systems that are more energy, water efficient or environmentally friendly.
Did you know?
- Homeowners own the outdoor water and sewer piping from their dwelling to their property’s boundary line.
- The cost of repair or replacement of damaged underground piping outside the home is not covered by property policies.
- A recent loss of $10,000 was incurred when an underground sewer pipe failed due to a tree root invasion.
Service Line Protection is an optional coverage that pays for a service line failure, resulting in the leak, break, tear, rupture or collapse, of a homeowner’s water, sewage, heat, steam or power service line.
Common causes of service line failure include accidental intrusion, root invasion, deterioration or freezing.
Examples of home systems losses:
- A main electrical panel’s circuit breaker failed to trip, overloading and damaging wiring, lighting switches, outlets and appliances. All items were replaced along with the circuit.
- Losses totalled $13,992.
Hot water heater
- The failure of the water temperature control device in a hot water heater resulted in the burner continuing to burn and boil out the water in the vessel of a hot water heater. Sudden entry of cold water on the overheated surface led to the complete destruction of the vessel.
- Losses totalled $2,100
- A built-in stove was replaced when out-of-date controls broke down.
- Losses totalled $3,750