Water Damage Statistics

3/30/2021 (Permalink)

Reading time: 1 min 37 sec

Water Damage Statistics

Water damage can cause a wide range of losses. Homeowners recognize that wear and tear can occur in every situation; however, there is a range of unexpected incidents that can result in water harm. Natural disasters are often blamed for water pollution, and understandably so, considering that the majority of water-related losses are caused by an external environmental factor.

Nonetheless, water damage can manifest itself in a variety of ways. Understanding the causes of this form of harm is vital not just for avoiding an injury, but also for understanding where you stand in the eyes of your insurance company. Water damage in homes is most frequently caused by the following factors:

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

The water damage statistics provided below demonstrate the pervasiveness of this issue. Although many people do not consider water damage to be a normal event, it accounts for a large number of homeowners insurance claims. Some of the most interesting water damage figures are as follows:

• Almost 40% of all homeowners have reported that they have suffered financial losses as a result of water damage.
• Approximately 93 percent of all water damage can be avoided.
• Water damage is the second most common explanation for insurance claims in the United States.
• A 1/8-inch gap in a pipe leaks 250 gallons of water every day.
• Water damage accounts for nearly 20% of all insurance claims.
• Every year, billions of dollars in property losses are incurred as a direct result of water damage.
• Homeowners who realize the potential harm caused by water are far more likely to avoid problems before they become big issues.

Water Damage Insurance Coverage

Homeowners must be aware of what is and is not protected by their new insurance policy. Without this understanding, homeowners will be taken back if a disaster happens, and they are forced to pay for the losses out of pocket. In addition to buying a flood policy, you might be able to add coverage to your current policy. These additions may include the following.

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

We Work With Your Insurance

For a stress-free claims process, SERVPRO can help manage the insurance paperwork and process. Call us for more details.

SERVPRO of College Park / Hyattsville and SERVPRO of District Heights / Landover 

(301) 779 3662