1. Know how to shut off your water
In the event of an emergency it is important to be prepared, i.e. pipe burst. Know where your water shut off valve is and learn how to use. Being aware and prepared could help prevent major structural damage to your home.
2. DON'T ignore that leak!
Ignoring that leak will could create more problems, such as mold, rot, mildew or even structural damage to your home. Having homeowners or renters insurance will not cover damages that are caused due to lack of maintenance unless it is sudden and accidental.
3. Do you know what your pipes are made of?
Polybutylene a.k.a. Poly-B. If your home was built between the 1970s-1990s, there is a big probability that your pipes are made of Poly-B. It is highly recommended to replace them as soon as possibly, as some insurance companies will not cover any damage caused by plumbing failure if your plumbing contains Poly-B.
A common cause of water damage is from having a pipe burst during cold winter months, pipes that are exposed and not properly insulated can cause the water to freeze in the lines. As the water freezes, it expands and causes increased pressure in the pipes, once the pressure gets too high the pipe will rupture.