Water damage caused by floods is among the most common insurance claims today. And the numbers are rising as long as floods become more and more frequent worldwide. The biggest problem with water damage is that it can cause numerous long-term consequences that may not seem apparent right after the disaster but will reveal themselves sometime later, compromising your property`s value. In other words, a flood can cost you much more than the insurance estimate.
Let`s go over the main flood cost factors to estimate the real financial outcome of the disaster:
- Water removal costs. It will include ventilation, clean up, decontamination. The price will vary depending on the size and complexity of your house;
- Structural repair costs;
- Costs of property, belongings, documentation, and other valuables lost to flooding.
In other words, if you thought that flood cost consists of the evident property damage only, we are here to disappoint you. Yes, you may try and save some money fixing everything yourself. But most of the time, only a professional will determine and eliminate specific damage that can lead to long-term consequences such as structural damage, development of mold, fungus, etc.
What does Flood Cost consist of?
The cost of a flooding event for you will depend on the following factors:
- Your location and its accessibility;
- The costs of materials and workforce in your region;
- Type and character of water damage (floodwater quality as well as the intercity of the disaster and damage it can cause initially and in a long-term perspective);
- The size and complexity of your property;
- Whether you can restore the existing structures such as doors, wood frames, floors, etc., or replace them with new ones.
The water itself can influence the flood cost.
Although it might all look the same to you, apparently, the quality and character of water that enters your home can significantly influence the flood cost. Experts distinguish 3 types of floodwater:
- Clean water damage. This kind of flooding may cause severe physical damage but is not associated with any dangerous contamination. It usually comes from heavy rainfall or water pipe damage. According to FIXR, a vendor-independent, cost-estimating database, such flood would cost you about $3,75 per square foot;
- Greywater damage. It comes from water that includes some kind of chemicals in it. Those may be soaps and laundry products in your basement or water that floods appliances and carries machine oils and other chemical substances. The repair of such damage requires a certain level of advanced clean-up and may cost you around $4,50 per square foot;
- Blackwater damage. The most dangerous one, this water comes from pipes, drainage, and sewers. It is almost always contaminated with bacteria and can be particularly dangerous for your health and wellbeing. The repair of such flood can cost $7 per square foot and more.
According to the data from 2019, the size of an average American family house is about 2,301 square feet. Suppose only a half of your property suffered from flooding directly, which means that we are dealing with at least 1,150 square feet of damaged property. It means that the most minor flood cost would come around $4,312, while a major "black water one" would end up in at least $8,050.
No wonder flood prevention solutions are so popular today. Modern and efficient, they are easy to install, take off, and don`t require too much storage space. Moreover, when you consider the potential damage from even the most minor event and the insurance cost, it becomes pretty obvious that a flood barrier is an investment that pay-off entirely after just one flooding.
Contact Dam Easy Flood Barriers today to learn about innovative and most efficient ways to prevent your property`s flooding. Consider our flood barriers today to preserve your property`s value tomorrow.
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