Owning a home comes with its own set of risks and rewards. As a homeowner, you frequently face unexpected accidents and damages, which are quite costly.
Water damage and subsequent water remediation services are no exception. If you think you’re immune from water damage, think again. Here are five common misconceptions about water damage that could cost you.
You may believe that your chances of water damage are slim to none. In reality, 40% of homeowners report experiencing water damage. In fact, water damage is five times more likely to happen to your home than theft and seven times more likely than a house fire.
Water damage is actually the number one cause of damage to luxury-style homes. This is because the bigger the building, the more potential failure points exist. The more potential failure points there are, the higher the chances of a leak.
You may believe that if you’ve already experienced a leak, you’re less likely to have it happen again because it was repaired.
Unfortunately, you’re actually at least two times – and sometimes 3.5 times – more likely to have another one.
Insurance claims analysis shows that homes that experienced an internal system water loss are at least twice as likely to have another, so don’t be fooled.
The longer you wait to repair a small leak, the worse the leak gets, and the more costly the damage becomes.
Water damage isn’t merely water dripping on your belongings or affecting your ceiling; instead, water leaks are a precursor to mold growth, which can wreak havoc on your health.
If you wait to repair a leak, you will pay heftier water damage restoration costs. Some of these include:
After water damage, the average homeowner ends up accruing around $4,100 in water remediation service costs.
You may believe that if the leaks aren’t visible, they’re not a problem.
Unfortunately, water damage doesn’t always show up as basement flooding or water spots on the ceiling.
In some cases, water damage is hidden behind the walls of your home where you cannot see it.
Some lesser-known signs of water leaks include:
If you are experiencing any of these in your home, it could be indicative of water damage.
With water damage, you are likely to be penalized. Furthermore, you’ll be paying for more than just water remediation. Your homeowners’ insurance premium will likely go up. Additionally, insurance companies are known to drop those whom they view as too risky.
If you live in the Orlando area (or the state of Florida in general), you may be facing difficulty finding homeowners’ insurance.
Florida homeowners’ insurance is in crisis because an increasing number of Florida insurers are going out of business.
Reasons for this include soaring litigation costs and high costs associated with hurricane damage. Water damage in Orlando, Florida, and throughout the state is a common problem.
This is why it is wise to identify and work with a reliable Florida or Orlando claims adjuster who can help protect you and your property.