How to handle water damage to your home, business

​People often worry about fires damaging their homes and commercial buildings. While fires are dangerous and can cause extensive damage to property, they are rare compared to another element that is in the home or building every minute of every day: Water. 

Properties suffer water damage more frequently than they do other causes of loss. Water damage emergencies occur 14,000 times a day in American homes and businesses, according to insurance industry data.

In comparison, fires occur in fewer than 3,600 homes per day, and burglaries occur 8,200 times a day. The basements in 98% of U.S. homes will suffer water damage during their lifetime.

The average home water damage insurance claim is more than $7,000. Insured losses from water damage equal $2.5 billion per year, which does not include uninsured losses caused by floods and other naturally occurring waters. 

Those waters can cause immense damage to buildings and the property within them. Just one to four inches of water causes an average loss of $7,800. The average loss caused by a leaky water heater ranges from $3,600 to $5,800, depending on the source of the leak.

Plumbing leaks

The average for leaks from bathroom fixtures exceeds $10,000. Plumbing leaks average $17,000. Water can damage walls, floors, and ceilings; ruin carpeting, furniture, and other home furnishings; destroy electronic equipment; and cause mold to grow. Beyond the mess, inconvenience and expense, dirty water and mold can cause health problems in people exposed to them.

In addition to getting a damage restoration company involved quickly, one insurer recommends the following steps to take if a plumbing fixture, appliance or roof springs a leak:

• Shut off the main water valve if the water is flowing from a pipe.
• Turn off electrical power and gas supplies when a major water event occurs.
• Do not use electrical appliances on wet surfaces.
• Turn on fans to circulate air.
• Mop or dry the area quickly.
• Move wet property to dry locations.
• Remove wet-area rugs, but leave tacked-down carpeting in place.
• Clean your wet clothes.
• Wipe excess water off of furniture and other belongings.
• Be on the look-out for sharp debris, snakes, rodents and other critters.

Insurance coverage

Home and business property insurance policies cover some water damage losses, but not all of them.

What they cover: Most policies will cover losses caused by water that enters through holes in roofs, broken or leaky windows, leaky pipes, and faulty dishwashers and washing machines.

What they don't cover: Many will not cover loss caused by the back-up of water from plugged sewers and drains unless the policyholder has purchased extra coverage. They do not cover damage caused by floods, rising tides and rainwater, overflowed rivers, and other natural causes. Insurance available from the National Flood Insurance Program is necessary to cover these losses. 

In case of water damage

If you have a water damage loss, contact a restoration company as soon as possible, notify your insurance company, and work with them closely. By taking practical steps, you can prevent unnecessary damage and return to normal quickly.