Does your hot water tank need replacing?

Does your hot water tank need replacing?

According to the Insurance Bureau of Canada (IBC), 50% of home insurance claims are for water damage. This includes damage caused by leaking hot water tanks, an essential appliance whose maintenance is often overlooked.

Service life

The service life of a hot water tank can vary tremendously for a number of different reasons. The type of water—and particularly its mineral content–can prematurely age the tank. For instance, water high in iron can be abrasive and lead to trouble more quickly.

The quality of your hot water tank can also have an impact on its longevity. Quality and models vary considerably, so you should think about replacing your hot water tank every 10 years, or at least have it inspected on a regular basis after this point. Also, some insurers may refuse to cover appliances that are too old because of the growing number of water-related claims.

Sign of aging

A sign that your hot water tank needs changing is the appearance of rust at the base of the tank. Since water leaks out through the bottom, the presence of rust means that the tank definitely needs changing.

Tips for avoiding water damage

Planning on replacing your hot water tank soon? Don’t take any chances. Call a professional electrician and plumber, who are familiar with plumbing and electrical standards, to get the job done right. Also, consider putting the tank on a tile or concrete floor, ideally close to a drain. That way, damage will be minimal should the tank spring a leak. Finally, install a drip pan under the tank. It will alert you to a slow leak.

Would you like to increase your protection against certain types of water damage? Talk to your insurer about the types of coverage available.

Source: All about insurance and water damage, Insurance Bureau of Canada (IBC)