Australian are ditching insurance as costs rise.
A Choice national survey in 2022, found 2 in 3 Australians were concerned about insurance prices.
70% of all insurance claims are flooding.
Imagine this scenario; fire sprinklers activate. It takes 15 minutes for Fire & Rescue to arrive with the key to turn the water off…
Water floods and spreads quickly. Damaging lifts, escalators, server rooms, other businesses and levels within the building.
According to Chubb and Experien Insurance, water damage is the leading source of property losses. Water damage risk can cause significant property damage, business disruption, lost revenue and even loss of reputation.
Case Study: Valve failure caused water damage to 16 floors of a high-rise office building
A major water leak was reported when a pressure relief valve coupling failed on the 16th floor of a 21 story multi-tenanted office building. The water flowed for at least an hour, from the 16th story all the way down to the basement, causing extensive damage to the electrical feeds on most floors. Water damage occurred on numerous floors wreaking havoc on suites, mechanical and electrical rooms, offices, and elevators. The main electrical risers were a complete write-off and would take months to replace. Carpeting was totally destroyed on most floors. Business interruption lasted approximately 6 months and the total loss was $9.5 million.
Chubb advises your water damage risk plan should be reviewed annually.
Isn't it better to be prepared?
At Flood Prep we are all about flood compliance and risk mitigation. We support you with products & solutions for emergency flood situations.
Much like a fire extinguisher, our flood emergency Rapid Response Kits provide an all-in-one solution for water ingress emergencies.
Don't wait for disaster. Be flood prepared.