Practice a Loss Prevention at Home – Mitigating Risk Before Crisis Happens

Insurance will keep you, your family, and your home as safe as possible in the event of a crisis. An effective loss prevention program can help you avoid it!

Certainly, buying home insurance protects your home and your most valuable assets in the event of a crisis or tragedy. If, however, you understand the common risks you face, you can take appropriate action to get out ahead of them, preventing potential losses before they happen.

The fact is, unfortunately, worst-case scenarios sometimes do occur – a flooded basement, kitchen fire, or natural disaster. Your home insurance provides the peace of mind, knowing you’re protected in the event of any losses and many potentially costly risks.

For extra peace of mind, however, there is a lot you can do to prevent damage to your home and to do so, it’s important to understand what risks you may face.

While some may be obvious, others only reveal themselves to someone who knows where to look and what questions to ask.

To practice effective loss prevention, you must know how to reduce your risk:

1. Know what might go wrong. Is your home surrounded by wild junipers that could provide fuel to the loose spark from your firepit? Learn what you can do, outdoors, around your home to make it fire safe. An uneven step could cause someone to fall on your property. Learn about your slip, trip and fall risks and the value of preventive maintenance.
2. Plan ahead to reduce your liability risks. Create an emergency kit and plan emergency exit routes with your family members. Limit how much alcohol guests are served when you host a BBQ, dinner or house party. Prevent sewer overflow in your basement by installing a backwater valve. Ensure that all smoke and carbon monoxide detectors are working properly.
3. Know how to handle an emergency or loss situation. Learn what you need to know when making a property claim. And keep calm.
4. Keep an up-to-date record of your household contents. A current home inventory of your belongings will make it easier to file a claim.
5. Consider if you have adequate coverage. If you are concerned about natural disasters, you may be able to add coverage to your policy, such as earthquake coverage. Your insurance representative can explain the available options.
6. Be sure that your home is equipped with approved loss prevention devices:
   fire alarm systems
   fire suppression systems
   security systems
   sump pumps and backwater valves
   automatic water shut-off devices
   reflective tape for heavy/farm equipment
   lightning suppression systems
   back-up power systems
   keep the chimney clean and free of brush and debris
   hail-resistant roofing materials

To learn more about loss prevention, contact us; we have the knowledge and expertise to advise you on all aspects of Loss Prevention.