Landlord Water Damage Repair Timeline Statistics

In this post, we uncover eye-opening statistics surrounding water damage repair and its impact on landlords in the United States. From the alarming frequency of water damage emergencies to the significant financial burdens it places on insurance companies and homeowners, these numbers shed light on the importance of preventative measures and swift action in mitigating costly damages.

Statistic 1

"14,000 people in the US experience a water damage emergency at home or work each day."

Statistic 2

"Water damage and mold cost the insurance industry $2.5 billion dollars per year."

Statistic 3

"37% of U.S. homeowners claim to have suffered losses from water damage."

Statistic 4

"About 98% of basements in the US will experience some type of water damage during their lifespan."

Statistic 5

"On average, water damage repair and restoration costs $2,400 - $2,600 in the United States."

Statistic 6

"The average cost to dry out a home is $2,700, this does not include reconstruction which often times can be another couple of thousands."

Statistic 7

"93% of all water damage can be prevented."

Statistic 8

"Approximately, 3.7 million landlords in the U.S. have said that their rental income is the main bulk of their overall income."

The statistics presented highlight the significant impact of water damage on both individuals and the insurance industry in the United States. With thousands of people experiencing water damage emergencies daily and millions of dollars being spent on repairs and restoration, it is clear that proactive measures are needed to prevent such occurrences. Homeowners and landlords should prioritize maintenance and prevention strategies to mitigate water damage risks and avoid costly repairs. By addressing potential issues early on, the majority of water damage incidents can be prevented, ultimately saving time, money, and stress in the long run.