Water Damage Statistics

2/16/2018 (Permalink)

Water Damage Statistics

Water damage covers a broad range of potential loss. Homeowners understand that wear and tear will occur in any circumstance; however, there are a variety of unforeseen events that may trigger water damage. Natural disasters are often given the most blame for water damage, and they should, considering that the majority of damages due to water stem from some sort of outside environmental factor.

Nevertheless, water damage may come in a variety of forms. Understanding the sources of this type of damage is important to not only potentially preventing an incident, but more importantly, to understand where you stand in the eyes of your insurance provider. Water damage in homes most typically comes from the following causes:

• Frozen pipes
• Leaking pipes
• Leaky roof
• Broken washing machine hose
• Plumbing problems
• Insulations issues

The water damage statistics below will highlight the widespread nature of this issue. While many people do not view this as a common occurrence, water damage accounts for a significant number of homeowners insurance claims. The following are some of the most interesting water damage statistics:

• Almost 40 percent of all homeowners have said that they have experienced loss from water damage
• About 93 percent of all water damage can be prevented
• Water damage is the second most frequently filed insurance claim in the United States
• 250 gallons of water is released a day due to a 1/8-inch crack in a pipe
• About 20 percent of all insurance claims related to water damage of some kind
• Billions of dollars in property losses are spent each year as a direct result of water damages

Those homeowners with an understanding of the prospective damages associated with water are much more likely to stop problems before they become major issues. Hopefully, these water damage statistics were able to shed some light on the vast complications that may arise from water in the home. If you or your family has experienced water damage and are looking to file a claim, contact Arguello, Hope & Associates for more information.

To get started today, simply fill out a Free Case Review form on this page.

Water Damage Insurance Coverage

First and foremost, homeowners must maintain an understanding of exactly what is and is not covered under their current insurance policy. Without this knowledge, homeowners will be left in shock when disaster strikes and they must pay for these damages out of pocket. Besides purchasing a flood policy for protection, you may be able to add coverage to your existing policy. These additions may cover things such as the following:

• Mold remediation (varies by state)
• Backup of drains or sewers
• Plumbing water damage
• Air conditioning damages
• Water heater damage

Homeowners must be astute in recognizing water damage as early as possible. When a sudden storm, a plumbing issue, or sewer backup occurs, knowing what will be covered will ease stress and make the entire repair process much more fluid. To find out more, contact SERVPRO of Suffolk/Smithfield/Franklin at 757-934-8404.