03 October 2024
What is Trace and Access cover?
2 minutes
“Trace and Access” is a type of cover that is included in some home insurance policies. It may not be something you’ve heard of, but it’s an important benefit that should be considered when choosing your home insurance policy.
The cost of a water leak at home can be a major problem for UK homeowners and insurers alike.
The first signs of are often:
- A wet patch or staining on the ceiling
- Lifting floorboards or tiles
- A boiler which loses pressure
- An increase in water bills
- Your water meter turning when there are no taps or appliances running
Trace and Access cover refers to the amount a home insurer will pay to find the source of a water leak and repair any damage caused whilst doing so. It’s an important benefit as some leaks can be hard to trace and therefore costly to find. In some instances the damage caused trying to find the source of a leak can be greater than the damage caused by the leak itself – which is why some insurers will have a leak specialist on hand. Some policies will also include Trace and Access or “Finding a Leak” cover for oil, gas, and liquefied petroleum gas (LPG). It’s important to note that Home Emergence will not cover Trace and Access, they’re in place to stop a leak i.e. turning off a top cock or isolating a pipe.
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Trace and Access isn’t always covered as standard and is sometimes stripped out of cheaper policies to keep the premium down. After all, cheaper policies are inexpensive for a reason and your average homeowner looking for a premium saving may not even notice. Some policies only cover internal leaks, not external as well. The absence of cover for water leaks outside the home, but within the curtilage, could be a real issue for larger homes, or even a smaller home on a large plot. It may also be an issue if you have oil-fired central heating and experience an unexplained oil leak – particularly if there is distance between your tank and your home. It’s no surprise that better insurance policies include enhanced Trace and Access cover with higher limits or even unlimited cover. The bigger your home, the higher limit you’ll need. Consider your home… if you’ve several bathrooms, underfloor heating, wet rooms, or air conditioning, then the cost of locating a leak may be high. Likewise, if you have expensive flooring or a high-end kitchen. Most mid net worth or high net worth insurance policies will pay “all reasonable costs” to find the point of a water leak and, unlike some policies, there’s no excess to pay. After all, it’s in the insurer’s interest as well as yours to stop the leak developing which may potentially cause more damage. |
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The costs paid by insurers for Trace and Access is not the same as the amount required to repair any damage caused by the leak. The two are quite separate and the costs of repairing the damage caused by a leak are not usually restricted by any applicable Trace and Access limit. It’s also worth noting that the cost of repairing the leak itself is not often covered. Though in the scheme of things, once you’ve found the leak, fixing it is usually straightforward and relatively inexpensive.
General policy exclusions apply to Trace and Access claims, as they do to all insurance policies. Exclusion and cover restrictions are typically in the policy wording – often referred to as the small print – so you’d be forgiven for missing them. But we won’t miss them. As a specialist broker we can help you work out the level of cover you need to protect your home. It’s just one of the many benefits of using a broker. For more benefits read our article: why you need a broker for your home insurance.