In your application you are ok - but virtually all home insurers will
give you a REAL hard time about any galvanized water pipe inside a
home - as well as cast iron sewer stacks.
Why? because water damage claims constitute a very large majority of
damage clains to houses - MUCH higher than fire damage - and contrary
to what you may believe, insurance companies are not in the "risk
taking" business. They are in the "risk controlling" business - and
one of the easiest ways to control the risk of water damage in a home
is to refuse to insure homes with what have proven to be the highest
risk features. Among those - high on the list - are galvanized water
pipe and cast iron sewer pipes.
Most will not stop covering you if you are already insured with them,
but most will also either not take you on as a new customer or will
add a significant surcharge to your premium to insure you.
Same if your roof is older than so old, you have knob and tube wiring,
you heat primarilly with wood, or you have aluminum wiring that has
not recently had an inspection assuring it is in good condition and
has not been "butchered" when modifications.additions have been made.
Up here (ontario Canada) you won't get insutance on a house with a 60
amp service either. 100amp os the minimum required - and whether you
have aluminum or knob and tube or not, many companies are requiring an
electrical inspection as a condition of insurance on any building over
a certain age (I believe most with this condition put the limit around
40 years) and if circuits are found to be overloaded, or panels
undersized, you will be required to replace the panel and rewire the
overloaded circuits. You will also be required to install GFCI
protection where required by current code.
I just went through all this with my 44 year old house to change
insurers. What I save on insurance from the change will pay for the
(expensive) panel replacement and inspections required in as little as
5 years.
from the canadian
underwriters.ca website :
Water damage accounts for approximately 40% of all home insurance
claims, according to data released Tuesday from Aviva Canada Inc.
Water
The average cost of water damage claims rose 117% over 10 years, from
$71,92 in 2002 to more than $15,500 in 2012, the insurer says. Aviva
Canada paid out more than $111 million in property water damage claims
in 2012 alone.
British Columbia has seen the highest increase in average cost of
water damage claims at 154%, followed closely by Ontario at 136%,
Alberta at 109% and Newfoundland and Labrador at 107%.
Rounding out the provincial breakdown for the 10-year period, is
Quebec with an 84% increase, Nova Scotia with 61% and New Brunswick at
50%. Saskatchewan, Manitoba, Prince Edward Island and the territories
saw only a small number of claims and therefore were not broken out in
the data provided by Aviva Canada.
In the USA:
National statistics for Insurance Claims relating to water damage
claims – show that the average amount needed to repair water leaks
can be over $20,000.
According to The American Insurance Association water leaks in homes
results in property loss amounting to over $10 billion.
Water Damage Claims account for approximately 23% of ALL Home Owners
Insurance property losses suffered by homeowners.