How to Protect Your Building From Water and Fire Claims

"If you own a multi-unit building anywhere in New York City, you're always one leak or small fire away from a big bill. The brokers at Brownstone Agency are seeing an increase in water and fire claims tied to older plumbing and aging electrical systems in New York City buildings. They've been in business since the 1970s, so they know that water damage can start in places you don't look every day."

"Fires are just as worrying. Many start due to outdated wiring hidden behind walls, where owners can't easily see problems until it's too late. You can't replace every pipe or wire at once, but you can cut risk with a few steady habits: Check under every sink and around every toilet on a set schedule, ideally once a month. Look for stains, soft wood, loose fittings, or any sign of past leaks."

Brownstone Agency has seen a rise in water and fire claims caused by aging plumbing and electrical systems in New York City multi-unit buildings. Water damage often begins on top floors when toilets or sinks overflow, and by the time water reaches lower units the claim becomes severe. Many fires start from outdated wiring hidden behind walls and from overloaded systems with AC units and space heaters. Regular monthly inspections under sinks and around toilets, using plumber visits for quick checks, and electrician inspections for older or heavily loaded buildings can reduce risk. Installing water sensors near boilers and basements provides early alerts. A three-year prepaid policy locks in rates and protects claims history.

Read at Brownstoner