Homeowners' carrier said you need to replace 15 y-o water heater

[adjusterjack]

caveat, not an agent

That comment, along with the general discussion preceding it, would suggest a sound business reason why an insurance carrier for your area would put a life requirement on water heaters for their policy holders.

Not practical. Do it for roofs, do it for water heaters, do it for washing machines, do it for refrigerators with ice makers, do it for all the plumbing in the house?

Nope.

What the insurance industry does, and is likely to keep on doing, is pay the claims, calculate the loss ratios, increase the premiums to cover the losses, rinse and repeat.

 

[LostDollar]

Not practical. Do it for roofs, do it for water heaters, do it for washing machines, do it for refrigerators with ice makers, do it for all the plumbing in the house?

Nope.

What the insurance industry does, and is likely to keep on doing, is pay the claims, calculate the loss ratios, increase the premiums to cover the losses, rinse and repeat.

Op's friend's carrier obviously thinks it is practical because they sent a notice.

 

[Al3x Lee]

My friend was told he needs to replace his water heater because it's fifteen years old. Is this a new thing? I got 27 years out of my last one. I don't know the carrier.

I used to rent a 3 level house with a water heater in the basement. We had a room mate down there and he moved out so it was just my girlfriend and I in this house that was too big for the 2 of us. We didn't go down there for weeks.

One day my girlfriend goes down there, the floor was carpeted and as she got past the last stair, her foot went 'squish' into a giant puddle of water. The valve on the bottom of the water heater had corroded and flooded the entire basement.

I think that water heater was 8 or 9 years old.

Lucky for us we didnt have anything in the basement, so the damage was limited to the structure, which I'm sure was expensive for the landlord to fix. I never saw the bill.

 

[saieddie]

Literally never had an insurance company ask how old the water heater was on an application.

 

[marindependent]

Literally never had an insurance company ask how old the water heater was on an application.

Really?

 

[AZDave]

Literally never had an insurance company ask how old the water heater was on an application.

Agree, me either. And what about the washing machine hoses?

Number 1 claim is non storm water damage. Carriers should be more proactive in preventing future claims. But easier to just non renew and adjust rates.