Based on 2014 data from Insurance Information Institute, the third on the list of catastrophic losses caused by weather on properties is severe winter weather. Property losses due to snow, ice, and freezing temperatures have incurred a yearly average cost of more than $1 billion.
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| Image source: midwestbasementtech.com |
Fortunately, there are some ways to protect properties amidst plummeting temperature, consequently preserving their property values.
The leading casualty of freezing weather in properties, no matter what real estate type, are the pipes. Frozen or burst pipes can cost tens of thousands of dollars, which is just the tip of the iceberg. Property owners or managers will also have to deal with the damages brought about by spilled water.
Preventing this occurrence is easy, though. The most important thing to remember before the onset of winter is to insulate the pipes, as well as outdoor faucets. Turning the heat on, especially if the home is left unoccupied, will also help. As a preventative measure, faucets can also be left dripping overnight.
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| Image source: ghcsd.com |
Another step that should not be neglected is proper roof maintenance. Maintaining the shingles or tiles, gutters, and downspouts can save homeowners a huge amount of money as heavy snow will not damage the house or any structure under the roof.
Benderson Development Company Inc. has more than six decades of experience in the real estate and property management industry. It is one of the leading firms in its field, receiving statewide recognition for its commitment to excellence. Follow this Twitter page for more on the industry.
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