- Water caused $9.1 billion in annual homeowner policy property losses from 2007 to 2009, were approximately 23 percent of all homeowner property losses and in the U.S., water damage is the second most frequently filed insurance claim?
- “Water damage claims have been growing faster than all other components of homeowners insurance.” - American Insurance Association
- Property damage resulting from water damage due to plumbing failures and freezing pipes is the third most common cause of homeowner loss.
- A water-damage claim, mostly from leaky or burst pipes, is the primary cause of rising property-insurance costs.
- ACE estimates the average cost of repairs for this damage could exceed $20,000, compared to only $6,000 for damage related to roof leaks and other causes.
- Water damage claims typically range from $2,000 to $30,000 with a mean of around $5,000.
- High humidity conditions that exist after a water loss create the perfect environment for mold growth.
- In the U.S. for the 1st 6 months of 2011 alone, severe weather loss claims have exceeded $15.5 billion!
The Insurance Industry is looking for and requires contractors who are Certified I.I.C.R.C. Water Restoration Technicians to handle the massive increase in claims loss.
The fastest growing segment of the cleaning industry is in WATER REMEDIATION!