Water Damage Prevention: Avoid Expensive Water Damage Claims

Water damage is the primary source of property claims for owners of hotels, high-rise residences, retail establishments, office buildings, and other commercial buildings. Leakages can develop problems for managers and property owners at any period of year and during a certain point in the life cycle of a facility. Often, it begins with an undetected leak that quickly spreads through the building, travelling with least resistance at a certain distance far from its source, thus making detection difficult.

Water damages costs billions of dollars of operational, reputational, and structural losses annually for owners of commercial property. For instance, a corroded pipe on a tank relief valve filled with hot water went unnoticed in a building for the whole weekend. The damage reached the other floors and led to $160,000 losses. In a high-rise renovation, a water line was abandoned and gradually leaked for over some time. The water went up to other floors and losses incurred amounted to $500,000. A window was left opened in a space that has been vacated by a tenant. The pipe froze inside the wall. The pipe burst and the water leaked on other floors. Such oversight resulted to $100,000.

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