It only takes a little water build up in your home or building to cause some major damage – 70% of all insurance claims in Denver are for water damage. IBIS reported their study of closed water damage insurance claims which allowed for the identification of the leading causes of water damage. Here are some of their findings:
- Plumbing supply failure is the leading source of residential water losses
- The cost of water damage is on average $5,092 per incident after the deductible was paid
- Frozen pipe-related failures resulted in losses twice as severe as those caused by plumbing supply system material failures.
- Plumbing material failure risks are the second leading cause of water loss is toilets, right after plumbing supply line failures.
- 30 year old buildings are three times as likely to have a plumbing supply or drainage problems.
- Homes more than 20 years old are 37% more likely to have water damage involving a shower.
- Sewer backup claims in finished basements are 23% more damaging than in partially or unfinished basements.
- ¾ of all water heaters fail before they are 12 years old. After they are 5 years old, the chance they will leak or burst increases dramatically.
- Of the claims analyzed, 22% of all supply system failures occurred beneath the slab of homes without basements.
In the upcoming cooler months, failure in the tubing for water distribution and collection network will be at risk for failure due to the exposure to freezing temperatures. Internal pressure within the pipes increase when pipes freeze and the internal pressure may cause cracks and eventual failure. These failures can be very costly and could majorly damage your home or building. At the first sign of Denver water damage, call Nubilt. We have the latest technology that allows us to determine water measurements retained in a structure in 20 minutes. When the unexpected happens, contact Nubilt for professional restoration and peace of mind.