Did you know that, according to the Insurance Information Institute, 1 in 50 homes across the United States files a water damage claim each year? That results in hundreds of thousands of dollars in insurance claims every year. Just how much should you prepare to cover the costs of water damage restoration if it is needed in your home here in Anchorage? Since there are a lot of factors that have to be considered when trying to plan and be prepared for water damage, we are going to help you break down the costs to give you a rough idea of how much money you need to handle water damage restoration.
The biggest factors in determining water damage restoration costs can be placed into one of three categories;
Within the cost of removing and drying the water, there are a lot of underlying factors like:
– Category of water
– Size of affected area
– Length of time damage has been present
Let’s look into these a little further. When it comes to the water category, we are referring to the contamination level of the water that has damaged your home. Category 1 water, or clean water, comes from a clean source and does not contain any harmful contaminants making it the easiest and least expensive to clean up. If you are dealing with water damage from category 2 (gray water), or category 3 (black water) water, restoration becomes more extensive, expensive, and antimicrobial cleaning is necessary to safely resolve the problem. When dealing with the size of the affected area, the more square footage that has sustained damage, the more costly and time consuming water removal and drying will be. Also, if water damage is not handled quickly, damages will compound. When water is allowed to sit, it can lead to other problems like mold growth and structural deterioration. The quicker you respond to water damage, the easier restoration will be.
Within the cost of making repairs and replacing items you have to consider:
Water damage restoration costs can increase by up to $10,000 when 1 inch or more of water is present. For flooding that covers more square footage, repair costs will go up as opposed to a small water leak. While cost of labor and materials carries slightly based on here you live, here are some ballpark price ranges of common repairs required after water damage:
These prices do not include cost of labor, so that will also have to be taken into consideration. All of these costs add up quickly, and can become overwhelming when trying to deal with water damage restoration. That is why TCM offers restoration services at affordable prices to help you get your home back to normal without breaking your bank account. We also work with insurance companies to help you get the most from your coverage and policy. For a water damage restoration quote and plan proposal, call TCM today.