It’s that time of year — you know, the one where the cold strikes and we all start dreaming of the spring and summer months. Ahhh…boating and golfing sound so great about right now. Sorry, I literally got caught dreaming there for a minute. Back to reality.

The cold is nothing new. It comes and goes every year. But, if you’re not prepared, the cold can burn a hole in your wallet.

My team specializes in helping fraternal organizations flourish and minimize claims. Because of that, I want to run down a list of things fraternities and sororities should consider this time of year.

How can you manage your claims this winter?

Freeze claims each year cost hundreds of thousands of dollars. Losses predominantly occur during holiday breaks, when college students have headed home and there’s no one overseeing the house left behind.

During the winter of 2013-2014, $2.7 million was paid for water damage resulting from frozen pipes that burst in the Fraternal Property Management Association program. And don’t assume these issues only happen in what we all consider colder cities/states. In one instance, the heat was turned off in a chapter house located in a part of the country where the weather does not typically dip below the freezing mark.  Unfortunately for this chapter, the weather became unusually cold, leading to frozen pipes and water damage. There was no insurance coverage for this claim, as the owners failed to maintain heat in the building.

So, what should you do?

To prevent a frozen pipe situation, consider these steps:

Now, we want to hear from you. Are there precautions you’ve taken that aren’t listed above or any advice you can give? We’d love to know. Talk with us!