I have 15 water-shut-off valves in my house, and I know exactly where each of them is and how to operate them. Do you?
Many small home emergencies become huge disasters because we don’t know how to take care of the property when the unexpected happens.
Buying a home of your own is not just about building wealth and saving taxes — it’s not just about money. Because homeownership represents the largest investment for most people, a homeowner needs to become a project manager as well. Homeowners’ losses for 2002 from all perils totaled $25.6 billion, down from $26.8 billion in 2001, according to the Insurance Information Institute (www.iii.org).
Get to know your home intimately. Knowing where the shut-off valves are, or how to cope with circuit breakers or a water heater, can save you a lot of money and grief later if disaster strikes.
• Water shut-offs. Each of my bathrooms has three cutoff valves — one for the commode, two under the sink (hot and cold water). If, for some reason, those break and I have water coming through, I also know where the main water valve is, and I’ve tested it to make sure the knob doesn’t break off in my hand in a real emergency. There are also two water-shut-off valves for the outside faucets.
It’s easy to let these valves age into disrepair. Honestly, they aren’t items we work with on a regular basis. Except for the testing of the water main, I’ve not touched the knob in more than three years (when I moved into the dwelling).
• Electrical panel. Have you looked over your electrical panel? If you’ve remodeled, the labels might need to be changed — assuming you have labels. If the circuits aren’t clearly marked, you’ve got a great family project on your hands. This can take either a few minutes or an hour or so, depending on how many outlets, switches and lights you have in the house.
If you have those handy walkie-talkies or a mobile phone, it makes the job of identifying the circuit breakers or fuses a lot easier. One person stays by the panel, flipping switches, while the other teammate walks the house, reporting what’s on and what’s off.
Otherwise, you can do what I did — speak very loudly through the laundry chute.
To identify the circuits will require turning on all the lights in the house. For outlets, you’ll just have to switch off the breaker and have your partner flip on an appliance, radio or lamp that’s plugged into that outlet to determine the match. The good thing about this project is that it won’t have to be done again unless you remodel and add more outlets and switches on more circuit breakers.
• Water heater. How’s your water heater? Have you checked the bottom of it lately to see any evidence of rust? For many homeowners, this is one of those household items that never gets checked until water is running everywhere. The water heater should also have a shut-off valve. Know how to use it, and have your children try it out, too.
• Washer and dishwasher. Keep up with what’s happening underneath these appliances. Look over the hoses periodically, and make sure they are not getting old and about to split open. Check for rust in the bottom of the baskets (if you have metal construction).
I remember noticing a touch of rust in the bottom of my dishwasher once when loading the dishes. I made a mental note to keep an eye on it in case it got worse. What I didn’t understand was that the rust was working its way up from the bottom — by the time I saw it inside the dishwasher, it was already too late. My neighbor came upstairs and let me know she had water dripping onto her counters.
m Insurance claims. If your preventive activities weren’t successful, then you should know where your insurance policy is and understand what is covered and what is not. If you live in attached dwellings, such as condos or town houses, then you want to make sure you keep enough insurance to cover your house and any damage that might cross your limited property line.
To keep your rates down, take care of the little stuff — anything under $500 — and report the more expensive accidents (flooding of the basement). If you’re looking for lower homeowner’s rates, you could even consider a higher deductible. Switching your deductible from $250 to $1,000, for instance, could cut your premium by 25 percent.
Emergencies can become less taxing with a little testing, preventive maintenance and knowing your home’s systems.
M. Anthony Carr has written about real estate for more than 15 years. Reach him by e-mail (manthonycarr@erols.com).
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