Additional findings from the survey include:
- The majority of homeowners (63 percent) cite the threat of relocating for an extended period of time (between one month and a year) as their first or second most potentially concerning water damage-related event. With the window for a quick restoration closing just 72 hours after a leak, extended relocation is a real possibility homeowners must contend with.
- A quarter of all homeowners have never had their appliances inspected, despite being the surest way to prevent a leak from occurring.
- Many homeowners also cited the loss of irreplaceable items (59 percent) and repairing structural damage (46 percent) as the top most potentially concerning water damage-related events.
- The majority of homeowners are unfamiliar with the most common sources of internal water leaks, with close to half (49 percent) identifying the water heater as the most likely source (independent analyses indicate plumbing supply systems pose the greatest risk).
The Homeowners’ Water Risk Survey is the first survey by Chubb measuring homeowners’ approaches and behaviors toward internal water leak detection and prevention. Conducted by Research Now, an online market research company, the online survey was fielded between July 24, 2017 and July 29, 2017. The results are based on 1,202 completed surveys, of which 25 percent of respondents were middle class ($50,000 to $99,999), 25 percent were upper middle class ($100,000-$499,999), 36 percent were mass affluent ($500,000-$999,999) and 13 percent were high-net-worth ($1,000,000 or more).