Water damage has become one of the leading causes of property damage in the country, with an estimated annual cost of $2 billion. Almost half (42%) of all property claims are related to water damage, making it among the top threats to homeowners.
The four primary factors are weather-related events such as storms and flooding, plumbing system failures such as burst pipes or leaks, appliance malfunctions, and human error, including leaving taps open or improper maintenance.
Homeowners are urged to take proactive measures such as regular maintenance, installing water leak detection systems, and to understand their insurance coverage to mitigate the risks and financial impact of water damage incidents. Find out more by clicking here.