Home and business owners in the Orlando area have a lot to think about, theft, fire, and weather damage, are just a few. The big threat luring on their property is easily overlooked, water leaks!
Water enters our home through pipes and flows into the bathrooms, laundry room, kitchen, hot water heater, and even to the irrigation system. Though many feel it is a low risk hazard, according to the Insurance Information Institute, water damage is the second highest cause of homeowner insurance losses. In fact, the losses are more costly than theft and vandalism, with each claim costing just under $8,000 on average.
Every year over 2.5 million homeowners have some type of water damage.
"Consider the fact that just half of all homeowners check appliance hoses (52%) and conduct water heater maintenance (51%). Even more concerning is that when it comes to hiring someone to inspect appliances, a quarter of all homeowners have never had their appliances inspected and 21% have not done so in more than three years. When these appliances and their related plumbing and hoses fail, claims range from 50% to 80% higher than a typical water damage loss," according to Chubb Homeowners' Water Risk Survey, Homeowners' attitude toward home protection, and what they're overlooking.
Statistics from the Insurance Institute for Business & Home Safety
Plumbing supply system failures are the leading source of residential water losses, with 48% greater losses (in terms of total payouts) than the second leading source.
The proportion of total water loss claims attributed to supply system material failure was twice as high in the South Region than in the North Region.
Of the claims analyzed, 22% of all supply system material failures occurred beneath the slab of homes without basements.
If you suspect you home or business has a water leak or want to take a proactive step by having your appliances inspected, contact the Leak Doctor. It is an easy way to save money and tons of frustration!