Major damages to a high-value home can cost hundreds of thousands up to millions of dollars in repairs. As most of these losses are preventable, upscale home insurers have been proactively empowering their wealthy clients to implement preventative measures that will help avert or minimize damage.
The Shift to Proactive Protection and Prevention
Several upscale insurers have learned from past experiences that passive loss prevention, like spotting risks and recommending mitigation measures, is not enough. Many policy holders do not have the expertise to implement the recommended safeguards. Consequently, the suggested disaster prevention measures may never be executed.
Nowadays, home insurers have greater access to real-time environmental data, which they can incorporate into their proactive property damage prevention strategies. They can even leverage thermal imaging to detect electrical wiring or equipment faults that could cause a fire disaster. Infrared imaging is also helping with early detection of water leaks behind walls that could cause flood damage.
Major insurance carriers send their risk-management teams to assess their clients’ residential properties before disaster strikes. Where necessary, they help policyholders find contractors and technicians to damage-proof items or structures like plumbing systems and fine art storage. These preventive measures help avoid claims, while keeping the premiums low. Therefore, several high-value home insurance policyholders in Wellesley, MA, are actively seeking such pro-active insurance carriers.
Pro-active Insurance Carriers and What They Offer
Pure Insurance is part of a specialist group of companies designed to serve the personal insurance needs of financially successful individuals. Amongst the many services offered, the company provides risk and collections management specialists to work closely with homeowners and any hired sub-contractors.
Pure has also been proactive in water damage risk management. Last year, the company partnered with HomePoint to launch a pilot program meant to prevent plumbing leaks. Under this project, Pure policyholders have access to a technician from the home repairs and maintenance company. These technicians can then install systems like durable toilet supply lines and connectors, replacing plastic products that are more susceptible to wear and tear.
Chubb is the world’s largest publicly traded property and casualty insurer. Policyholders with Chubb can access mobile app alerts when their insured properties face an imminent hurricane or wildfire threat. The real-time notifications enable the owners to implement protective measures before the risk occurs.
Chubb will even try to actively help avert disaster when the client is away from home. This is especially useful when it comes to protecting vacation properties. Chubb will send a risk management specialist to assess any storm damage, even if you haven’t filed a claim yet. If your property is still at risk the consultant will help you secure the necessary resources. This can include technical input to reinforce windows and storm-proof your roof, stopping all damage at once.
As a leading high-end residential property insurer, Chubb can also help you access technical assistance and consultation services when you need to safely store your expensive fine art, jewelry, and other collectibles. Upon request, they’ll dispatch a team to inspect your collection’s storage and ensure that the conditions, including temperature, humidity, lighting and security are ideal.
Having a proactive approach to home repairs can help avert disaster and minimize the resultant damage. Are you looking to protect your home with a quality home insurance policy in Wellesley, MA? The experienced agents at CAV Insurance work closely with providers like Chubb and PURE can help you get reliable protection for your family home. Contact us on 781-237-4107 to get started on your homeowner’s insurance plan right away.