How Often Does Water Damage Really Happen?

September 5, 2019 | Blog

The statistics don’t lie.  Water damage is a common problem that can happen to almost anybody.  It may be hard to understand unless you’re experiencing it firsthand, but when it does occur the consequences can be expensive and absolutely devastating.  The truth is, that every home or business is at risk.  Check out the eye-opening information we’ve gathered that shows just how big of a problem this can be.

CONSUMERS:

  • 14,000 Homeowners in the U.S. Experience a Water Damage Emergency Every Day
  • 98% of Basements Will Experience Water Damage at Some Point
  • 37% of U.S. Homeowners Have Suffered Losses Due to Water Damage
  • About 1 in 50 Insured Homeowners Will File a Water Damage Claim Every Year

COSTS:

  • Water Damage & Mold Costs Insurance Companies $2.5 Billion Each Year
  • The Average Water Damage Claim is $6,965
  • Just 9-12 Inches of Water in a Flooded Home Costs Approximately $18,930 in Repairs
  • Water Waste Costs an Average $6 Billion Per Year

CAUSES:

  • 75% of Water Heaters Fail within 12 Years
  • It Takes Just 8.7 Years for a Washing Machine Supply Hose to Fail
  • Most Reported Water Damage is Due to Pipe Bursts or a Plumbing or Appliance Issue
  • Flooding is the Number One Natural Disaster in the U.S.
  • 20% of Flood Claims Each Year Come from Properties Not in a High-Risk Flooding Area

WASTE:

  • 250 Gallons of Water Can Be Lost Per Day from a Cracked 1/8 Inch Pipe
  • A Showerhead Leaking 10 Drips Per Minute Wastes More than 500 Gallons of Water Per Year
  • A Sink Dripping One Drip Per Second Wastes 3,000 Gallons of Water Per Year
  • More Than 1 Trillion Gallons of Water is Wasted Every Year from Water Leaks

Water damage most often occurs quickly and unexpectedly.  The damage can be immense and very expensive.  Luckily, there are things you can do to prevent a lot of it.  Be on the lookout for leaks and perform routine home maintenance for gutters, pipes, sump pumps, and other areas at risk for water damage.  Know how to prepare for flooding, and what to do if flooding occurs.  Have a home inventory ready and up to date.  Be sure your home is properly insured and that you know what is covered and what is not.  Prevention and preparation will be your greatest defense against the devastating effects of water damage.

 

Related Blog Posts:

Water Damage Prevention When You’re Away From Home

What Can Happen if I Leave Water Damage Untreated?

5 Reasons to Call a Professional for Water Damage

Be on the Lookout for These Leaks

Tips for Storm Damage Prevention

Prevent Water Damage Today with This Checklist

 

Additional Resources & References:

https://www.waterdamagedefense.com/pages/water-damage-by-the-numbers

www.epa.gov

www.disastersafety.org

https://www.valuepenguin.com/home-insurance-statistics

https://www.domeha.com/blog/2017/8/30/10-startling-statistics-on-water-damage

https://www.iii.org/fact-statistic/facts-statistics-homeowners-and-renters-insurance

https://www.insurancejournal.com/news/national/2016/04/06/404400.htm

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