WATER DAMAGE
STATS
We’ve gathered some of the top water damage statistics and cited them for a reliable and easy reference point.
98%:
The percentage of basements that will experience some form of water damage.
14,000:
The number of people in the United States experience a water damage emergency at either home or work each year.
1 in 50:
The number of insured homes that have a property damage claim caused by water damage or freezing each year. – Insurance Information Institute
$25K:
The amount of damage 1 inch of flooding can cause. – FEMA.gov
$13 billion:
The amount of water damage in U.S. houses each year.
14.6 million:
The number of homes across America that are at risk of flooding.
INSURANCE STATISTICS
Homeowners Insurance Losses by Cause in 2018
Percent of homeowners insurance losses from water damage and freezing from 2014-2018
2014 | 2015 | 2016 | 2017 | 2018 |
|---|---|---|---|---|
33.6% | 45.8% | 30.5% | 18.4% | 23.8% |
- In 2014, 33.6% of homeowners insurance losses this year were from water damage and freezing
- In 2015, 45.8% of homeowners insurance losses this year were from water damage and freezing
- In 2016, 30.5% of homeowners insurance losses this year were from water damage and freezing
- In 2017, 18.4% of homeowners insurance losses this year were from water damage and freezing
- In 2018, 23.8% of homeowners insurance losses this year were from water damage and freezing
– Stats from the Insurance Information Institute
The percentage of water damage / freezing claims out of all homeowners insurance claims over time (%)
MORE STATS
The majority of brand new homes will develop a leak in the basement within the first 10-15 years.
Over 60% of current homes with basements have a moisture problem.
In the span of 30 years, you are 5x more likely to have a basement leak than a home fire.
In terms of resale, water damage and mold can reduce a property’s value by 25%.
The impacts of water damage can be far reaching. What can start as small water infiltration into your home can result in full mold infestation and the need to replace costly items such as furniture and drywall. Therefore, when faced with flooding in your home, it’s important to act quickly to prevent as much water damage as possible.
Sources: iii.org, FEMA.gov