Most people hope that they never have to take advantage of their homeowners insurance policy. It’s more of a safety net, and making a claim can be a real hassle. But every homeowner needs to answer one massive question: does your homeowners insurance policy protect you from the most common threats to your home? Naturally, most people don’t know what types of disasters are the most common in the US, so we’re going to take a look at the worst types of disasters (and their frequency) to help find the best insurance coverage.
2015 Aggregate Natural Disaster Damage
And the number of insurance claims in 2015 alone are absolutely staggering. According to the Insurance Information Institute, homeowners insurance claims in 2015 totaled a whopping 16.1 billion dollars. Thought we like to think that “it will happen to someone else,” the sad truth is that damages from natural disasters are all too common. But obtaining the right insurance is only half the battle. You’ll also need to work with a reputable repair and construction service to make sure you’re not being taken advantage of. Fortunately, we can help repair and remediate damages from the most common types of disasters.
And unfortunately, The American Insurance Association reported that water damage is unbelievably common. Water damage claims make up about 23% of all homeowners insurance losses, and the average cost needed to repair water damage is about $20,000. But not all water damage is related to natural disasters. Though floods do cause significant damage, it’s more common for plumbing failures and frozen pipes to damage a home.
But initial water damage is a small threat compared to a mold outbreak. If you experience water damage, remember to act as quickly as possible, because mold can begin to foster and multiply in as little as 48 hours.
Fires are also shockingly common, though there are several different root causes. The Consumer Products Safety Division reported that there are about 25,000 chimney fires each year. However, the overwhelming majority of fire related insurance claims are caused by fires started in the kitchen. Each year, there are approximately 154,700 homes affected by cooking-related fire damages, which total approximately $724 million in annual damages.
In addition, the U.S. Fire Administration reported that about 2,900 instances of home fires result each year due to clothes dryers. The ugly truth is that a lot of home devices and appliances (curling irons, furnaces, clothes dryers, etc.) cause costly fires. Failing to obtain homeowners insurance for fire related damages is like asking for trouble.
The Bottom Line
The bottom line is that you need to be absolutely certain you know what your protection your insurance policy offers. In addition, you need to work with a trusted local construction, restoration, and remediation service in your time of need.
Fire and water damage can be emotionally devastating, but working with a substandard construction service will only heap additional anxiety on an already troubled situation. Whether you need help containing mold, repairing water or fire damage, roof damage after a storm, or other types of home construction, reach out as soon as possible. We can help by providing a free inspection and estimate to give you time to consider your options.