Through the Roof- The High Cost of Ignoring Home Repairs

THROUGH THE ROOF The bigh price of ignoring home repairs A leak in the roof can be a real pain in the neck, and catching puddles in pots and pans might seem like a smarter idea for your piggy bank now than completely re-roofing the house. However, take a look at the potentially sky-high costs of ignoring repairs as opposed to facing problems head-on with long-term solutions. The results may surprise you. FIRE HAZARDS WATER DAMAGE BODILY INJURY RISK OF CRIME WEATHER DAMAGE FIRE HAZARDS $31,762 AVERAGE COST OF DAMAGE OUT-OF-DATE ELECTRICAL SYSTEM Vs Quick Fix: Install curcuit interrupters - $125/each Long-term: Professionally upgrade electrical wiring - $446 $842 FAULTY OUTLETS OR APPLIANCE WIRING ESTIMATED Quick Fix: Install surge protectors - $50/each CST OF PREVENTION Long-term: Rewire and/or replace outlets - $94/each SMOKY CHIMNEY Quick Fix: Clean chimney and fireplace regularly - $0 Long-term: Hire professional chimney sweeping service - $127 37x RETURN ON INVESTMENT WATER DAMAGE $6,965 AVERAGE COST OF DAMAGE BROKEN PIPES AND APPLIANCE FAILURES vs Quick Fix: Replace failed supply hoses with PVC pipes - $20 Long-term: Install steel braided hoses on appliances - $100 $551 OVERLOADED RAIN GUTTERS ESTIMATED Quick Fix: Clean your gutters - $0 COST OF PREVENTION Long-term: Get gutters cleaned professionally - $175 RAMPANT TREE ROOTS Quick Fix: Use drain treatments to stunt growth near pipes - $20 Long-term: Professionally remove tree stumps - $236 12x RETURN ON INVESTMENT BODILY INJURY $18,351 AVERAGE PERSONAL INJURY CLAIM LOOSE TILES, BRICKS, OR OTHER ISSUES vs Quick Fix: Use industrial glue to secure tiles - $5 Long-term: Professional repair and replacement - $129 $996 POOL, TRAMPOLINE, OR DANGEROUS DOG ESTIMATED Quick Fix: Buy a pool cover and remove trampoline - $30 COST OF PREVENTION Long-term: Install fence around pool or dog area - $592 UNSAFE DRIVEWAY OR YARD Quick Fix: Sweep driveway and remove debris from yard - $0 Long-term: Professionally repair driveway - $240 18x RETURN ON INVESTMENT RISK OF CRIME $3,231 AVERAGE LOSS FROM BREAK-IN PROTECT VALUABLES AND BELONGINGS vs Quick Fix: Lock sliding doors with wooden dowel or pole - $5 Long-term: Install a professional home security system - $778 $1,519 BROKEN OR CRACKED WINDOWS ESTIMATED Quick Fix: Repair broken window and clean up - $164 Long-term: Window replacement and installation - $323 COST OF PREVENTION SECURING EXTERIOR OF HOME Quick Fix: Professional hedge trimming - $99 Long-term: Install motion lights around your home - $150/each 2x RETURN ON INVESTMENT WEATHER DAMAGE $6,476 AVERAGE COST OF DAMAGE WIND DAMAGED ROOF SHINGLES Quick Fix: Regularly inspect roof for loose shingles - $0 Long-term: Have roof professionally inspected - $184 $1,186 TREE BRANCH AND HAILSTONE DAMAGE ESTIMATED Quick Fix: Repair or replace damaged shingles - $197 Long-term: Professional tree trimming - $257 COST OF PREVENTION ICE BUILD-UP / LEAKY ROOF Quick Fix: Weather strip home exterior to prevent leaks - $169 Long-term: Install attic insulation and venting - $379 5x RETURN ON INVESTMENT BROUGHT TO YOU BY: redbeacon Homelnsurance.com The Sources: http://www.i.org/facts_statistics/homeowners-and-renters-insurance.html http://www.redbeacon.com/ http://www.homeinsurance.com Estimated home repair costs based on Red Beacon national average service costs