Avoiding the Financial Strains of Water Damage

2/14/2020 (Permalink)

Major water damage in a Comanche, MT home

Many households across the United States have encountered the dismay of dealing with a broken pipe. More than 90 gallons of water are wasted per day due to leaky pipes, dripping faucets, worn toilet flappers, and similar issues in 10% of homes according to the Environmental Protection Agency. To fix broken pipes at homes in Comanche, MT, consulting a professional is often the best way to minimize further problems.

Water Damage Can Be Costly

The cost of repairing your home after a leaky or broken pipe can be high. This price varies by the type of property and the water damage restoration company hired to take care of the resulting flood damages. Some major examples of resulting damages may include the following:

• Structural damage
  
• Electrical loss
  
• Mold formation
  
• Clogged sewage and drainage systems
  
  

Electrical damage is a major deal. For homeowners, this can mean losses in food items and the usage of electrical equipment necessary for heating, cooling or other household functions. Total costs related to major electrical problems such as re-wiring a home are usually high — ranging from $500 to $2100 — which does not include costs to replace or repair any damaged electrical fixtures as a result of water damage.

Peace of Mind Is Secured by Being Insured

The initial panic of dealing with the aftermath of a flood can be overwhelming. Fortunately, the risks of having to pay out of pocket for restoration work are significantly minimized with insurance protection, which covers many water incidents involving broken or leaky pipes. What's more, restorative job rates not only include labor costs but also depend on the materials needed for repairs and electrical device replacements for the property owner. Reviewing the terms of your current insurance policy can ensure that there are no exclusions and that the type of coverage you hold will cover potential damages and/or losses.
A flood in your home can be a very stressful situation. Enlisting the help of a professional restoration company and securing insurance coverage can help mitigate both anxiety and financial strain.