I hate paying for insurance every month. Whether it is health insurance, car insurance, renters insurance, or homeowners insurance ... it is quite literally hundreds of dollars that I pay each month because I'm hoping nothing will ever happen but knowing that if it does ... well ... then I'll be taken care of. While insurance isn't that straightforward, this is the basic concept - we all pay into a giant fund, and when something bad happens, we can take some out. The risk is shared among hundreds or thousands of people vs us as individuals.
That's why insurance companies are so aggressive in asking questions during your initial account setup as well as offering programs to help keep you and your property safer. Simply put - they want to keep your money and avoid paying out any money when something bad happens.
According to research, the total cost of damages caused by natural disasters in 2021 in the United States was $145 billion. While these disasters significantly cause damage to homes, they are not the only source of damage to homes. Other factors like neglect, age, and even human error often cause significant damage to your property. This discussion focuses on the top three causes of damage to your home and what you can do to prevent them.
Fire Damage
Every 93 seconds, a residential fire is reported in the United States. According to the National Fire Protection Association, that is a major concern, especially as it raises critical questions about the cause. Many factors are behind the start of fires, and some are electrical faults, cooking accidents, and smoking. In almost every case, the aftermath of a fire can be devastating, especially when property loss or fatalities occur. Ensuring that your home's electrical system is up to code to prevent fire damage is advisable. What you can also do is avoid overloading electrical outlets in your home. Another vital precaution is to keep flammable materials away from heat sources and avoid leaving cooking appliances unattended. More importantly, you will have increased reaction time when you install functional smoke detectors in your home.
Water Damage
Water damage is the leading cause of damage to homes, accounting for over 30% of all homeowners' insurance claims in the United States. Various sources like floods, burst pipes, faulty plumbing, and leaking roofs have been responsible for irreparable damage to people's homes. While human error can sometimes be a factor, it is not always the case, explaining why you must pay critical attention to your property. When left unaddressed, water damage can lead to mold growth, structural damage, and electrical hazards. It would be best to ensure your roof is always in good condition to prevent this damage. Also, it will be in your interest to promptly fix any plumbing issues. Better yet, calling professionals like an emergency water damage restoration specialist to attend to it will prove helpful. Moreover, check your home's drainage system regularly or consider installing a sump pump and backup generator to protect against basement flooding.
Natural Disasters
Natural disasters like hurricanes, earthquakes, and tornadoes can cause significant damage to homes. Indeed, the United States has experienced its fair share of disasters that destroyed countless homes. On average, the US experiences 14 natural disasters annually, resulting in millions of dollars in damages. With these numbers, there is no denying that many homes stand an increased risk of damage just by being in disaster-prone states. Ensure your home is built to withstand the potential risks in your area to prevent damage from natural disasters. Also, have an emergency plan, prepare an emergency kit, and have adequate insurance coverage. Across the US, many residents have learned how to board up their homes against terrible weather patterns. Doing so would help protect your property from avoidable damage. Staying updated with current news can also equip you with the information you need to prepare adequately.
Lastly, neglect and an old structure can cause damage to your home as well. Things like worn-out roofs, cracked foundations, and outdated electrical systems often lead to more damage to your property. In the end, your proactive steps can save your investment.
