The average insurance payout for water damage is $13,954. The cost to repair water damage ranges widely depending on various factors, with the average claim payout amounting to $13,954. One in every 67 insured homeowners files a claim due to water damage or freezing each year, with an average claim amount of $15,400.
In Folsom specifically, pinhole leaks in copper pipes are causing residents thousands of dollars in damages. One resident reported that problems with a small copper pipe cost almost $15,000 to fix. Just 1 inch of water in the typical home can cause up to $25,000 worth of damage.
The key is early detection and prompt repair. The average leak wastes about 10,000 gallons of water every year, but catching and fixing leaks early can save homeowners about 10% on their water bills and prevent the much higher costs of structural damage, mold remediation, and property restoration.