How damage to your home can leave you financially short

Owning a home can be simultaneously elevating and overwhelming – on the one hand, the best investment you’ll ever make, and on the other, the biggest financial risk you’ll take. Though you may have taken every precaution to ensure that your home remains a safe, comfortable haven for your family, damages can and will happen over time. Some of those damages will be relatively easy, and cheap, to put right. Others may leave you a little more out of pocket than you’d expected. Common causes of damage include:


Weathering is one of the most common causes of damage to properties, involving the barrages of wind, rain, intense heat, and extreme cold that are likely to bombard your home throughout the year. All homes will suffer the effects of weathering at one time or another, whether that’s chipped paintwork, worn fixture and fittings, or gradual structural damage caused by temperature changes.

Water damage

Water damage is another common cause of damage to a property, and can happen during periods of extreme wet weather, following a drainage block or sewage leak, or as a result of failed plumbing or appliances. Water damage has the ability to devastate an entire home, causing damp and structural damage that would be very expensive to put right.


Whether it’s started accidentally or as a result of arson, fire and the smoke that it creates can have a devastating effect on a home, permanently damaging fixtures and fittings and intruding upon spaces for many months after the initial event.


Damage caused as a result of burglary or vandalism can be doubly devastating, leading to structural issues and big bills, as well as overwhelming emotions; not only are your home’s security and comfort compromised, but your confidence and ability to relax in your property may also be affected.


We think of rats, mice, roaches, and associated bugs and beasties as being something of a pest, but the truth is that they have the ability to devastate fixtures and fittings, create fire hazards, wipe out food reserves, and cause structural damage.

While any kind of property impairment can be upsetting, damage that threatens the structure or security of your home is likely to be emotionally and financially devastating. Your home is your palace, your safe haven from the world outside. This is a place that should be safe, comfortable, and welcoming. Damage of any kind can threaten your happiness in your own home – not to mention pounding your pockets when things need to be put right.

The following tips should go some way towards protecting your property and the security and happiness of your family:

Preventing the financial impact of such damage

Owning a property is a huge financial risk. Luckily for homeowners, there are numerous things that you can do to protect your dwelling and safeguard those savings – least of all applying some preventative measures.

Prevention is better than a cure

Sure, paying for repairs and replacements as they’re required is fine for some, but wouldn’t it be even better to prevent damage from occurring in the first place? Treat your home’s exterior to a coat of weatherproof paint or gloss, and keep drains secured and clear. You may also wish to reinforce doors, windows, and garage doors if you live in a region particularly prone to storm damage. Inspect your roof seasonally and also after every period of adverse weather; you never know what damage is occurring right above your head unless you look.

Tackling problems before they get worse

Remain vigilant, and keep a close eye on your home’s interior and exterior fixtures and fittings. Periodic inspections are vital for tackling damage as and when it occurs, or you could end up with a costly bill. Check your walls and floors for cracks and buckling; inspect the sealant or caulk around your windows, and keep up to date with electrical and utility inspections. Familiarize yourself with problem areas or parts of your home that have caused you issues before. What will need to be done in the future? Above all, endeavor to tackle problems as you come across them, rather than risking the damage worsening over time. Minor damage can quickly become a major problem if you’re not careful.

Protect your finances with insurance

As a homeowner, it’s your responsibility to ensure that your property is covered for all eventualities; insurance won’t prevent your home from suffering damage, but it will ensure that routine maintenance and emergency repairs are a little less costly – and not so much of a shock when the time comes. There’s nothing worse than being hit with a big bill following an act of vandalism, an accident, or environmental damage, but your insurance should soften the blow in any of these circumstances. By choosing to take out a home warranty to protect your home and appliances, you’ll cover the cost of routine home repairs, as well as accidental or environmental damage. You simply cannot put a price on the peace of mind that a warranty will afford you.

Your home is your safe haven, your own den of comfort away from the stresses of work and play. You’re bound to be proud and protective of your home, and will no doubt do everything that you can to keep your family safe, comfortable, and happy. It makes sense, then, to do all that you can to reduce the financial impact of property damage.