How Likely is it That My Pipes Are Leaking?
Leaks can happen anywhere: toilets, kitchen faucets, laundry machines, and basement pipes are all victims of faulty plumbing. In fact, leaks are so common that US households waste 1 trillion gallons of water each year from preventable leaks.
45% of property damage insurance claims are because of water leaks, making it the most common source of property damage in US buildings, more common than fire and theft combined.
But water leaks are preventable, and if spotted quickly, can be easily repaired with minimal damage. But if they aren’t dealt with quickly, leaks can cause major problems for your home and your budget.
Leaking pipes can waste thousands of gallons of water, resulting in hundreds or thousands of dollars tacked on to your water bill each month.
If your building has more than one leaking pipe, the problem grows even faster. The American Water Works Association estimates that about 1 in 5 toilets is leaking at any moment, meaning a large multi-family apartment building could be wasting hundreds of thousands of gallons year after year. Worse still, if those leaks are in different units, it could be even harder to notice the problem in the first place, since each family only observes one part of the problem.
And all this is only the cost of water. Leaky toilets, if left unfixed, can bring water damage, mold, rust, and other problems that can cost hundreds to repair.
How Water Leaks Affect Your Building
Beyond the cost to your water bill, leaky pipes can wreak havoc on your budget if they aren’t handled quickly. Water leaks can lead to damage throughout a home, with each repair costing hundreds or thousands of dollars.
According to Fixr.com, the national average cost of restoring a room after a “clean” water leak is $2,700. A “clean” leak is one where the only problem is the water that escaped the pipe, but no additional problems— such as mold, mildew, discoloration, carpet damage— occur.