Whether it begins with explosion of a pipe bursting, a quiet drip or condensation, water damage can wreak havoc on a home. Unfortunately, it can cause more than just expensive home repairs. Water damage can also create breeding ground for mold and bacteria, which can be hazardous to you and your family’s health. While water damage and mold are common, experts say that homeowners can expect more property damage as a result of climate change.
In 2016, the ENVIRONMENTAL PROTECTION AGENCY reported $6 billion in property damage from severe storms, a number that has remained constant since 2008. Not only are water damage and natural disasters playing a role in this industry, fire and smoke damages are also big threat. Fire and smoke damage cost property owners, as well as insurance companies, billions of dollars every year. Home Advisor reports that home owners spend any where from $2,586 to $12,993, with the highest amount being more than $60,000 to restore a home.