Information Homeowners Should Know

CONTRIBUTING FACTORS THAT AFFECT WATER DAMAGE CLEAN UP COSTS

Many things factor into water damage restoration costs seeing as each circumstance is different. It is impossible to gauge the extent of the destruction until the area is thoroughly inspected. The following are contributing factors regarding water damage cleanup costs.

Insurance:

· Depending how the water entered your home will determine if your insurance will cover it or not. Water damage and flood damage are two different types of coverage. Flood insurance will only cover a flood and not water damage. See more information at: http://blogsbynikiramirez.blogspot.com/2014/04/flood-damage-vs-water-damage.html

· If the water enters through your sewer then you need to have a sewer and drain endorsement. See more information at: http://blogsbynikiramirez.blogspot.com/2014/04/understandsewer-backup-waterbackups-do.html

· If the water overflows due to sump pump failure then you need to have sump pump back up endorsement. See more information at: http://blogsbynikiramirez.blogspot.com/2014/03/understand-sump-pump-overflow-sump-pump.html

· The amount of coverage you have for mitigation.

· The amount of coverage you have for building replacement cost.

· Your deductible amount - If the cost of the damage greatly exceeds your deductible then it is worth filing a claim.

· If you do not have insurance coverage then all expenses will be paid out of pocket. If you have a limited amount of coverage you will have to pay out of pocket for the amount that exceeds your   coverage.

· Mold can form as a result of water damage and most insurance companies do not cover mold so you must verify your policy.

Structure:

· Extent of the damage is the biggest determining factor.

· Cost to fix the source of the water issue – Failed sump pump, broken pipe, water heater leak, cracks in foundation, roof, etc.

· Location of the destruction - Some materials are easier to replace than others.

· If the furnace was affected it may need to be cleaned, fixed, or replaced.

· Finished/unfinished basement.

· Building materials of the outer walls - Drywall can sometimes be saved in a clean water loss but   will need to be removed if it has made contact with contaminated water.

· Type of flooring - Carpet and padding, tile, laminate, or hardwood.

· The length of time building materials make contact with water.

· Square footage of the affected area and height that the water rose to.

According to Homeadvisor.com. the average amount spent to repair water damage in Chicago is $3,564. They accumulated this number off of only 33 profiles that submitted their information. This is just a general figure and each person's circumstance is different but this figure shows you that water damage can cost thousands and put a dent in your pocket. 

According to Homewyse, the cost to repair water damage averages $11.08 - $11.69 per square foot in 2014. This Water Damage Repair cost estimate is calculated from average material costs, unit labor productivity rates and national average hourly labor wages. The extent of damage can greatly increase costs. You can expect to pay fees around this bracket or higher for a licensed, bonded and insured contractor. WATER DAMAGE CLEAN UP SHOULD BE ADDRESSED BY AN IICRC SERVICE PROFESSIONAL. IICRC.ORG

Equipment:

· Many people think it is simply a guessing game when it comes to how much equipment should be used. The amount of equipment that is needed to efficiently perform a task is determined by the extent of the damage and the square footage of the affected area. Rainbow International uses   a mathematical formula that includes these factors to determine the amount of equipment needed. This prevents the use of unneeded equipment and extra costs.

Type of water loss:

· Category 1 – Clean water, no health risk. Very good potential of saving contents and structural      surfaces.

· Category 2 – Grey water, possible health risk. Affected carpet pad will have to be replaced.
· Category 3 – Black water, major health risk. Most porous objects and surfaces will have to be replaced including drywall and carpet.