Interactive
Are Water Damage Claims Drowning Your Profits
Academy of Insurance
Updated Nov 30, 2020According to some insurers, many water damage claims are “the new arson” of this decade. The fact is, about 14,000 people experience a water damage emergency EACH DAY, whether at home or at work. The average annual cost to insurers is estimated at $2.5 B for water damage and mold claims in the US. The average claims cost just under $7,000 from 2010 to 2014, according to the Insurance Information Institute. Yet next to wind and hail, water damage and freezing claims are the second most frequent homeowners’ claims. This course will explore some of the ways insurers can mitigate water damage events pre-loss, mitigate post-loss, and investigate and defend the water damage claim.
