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8/7/2013· Insurance

Investigating Water Loss Origins

By: EFI Global - Mark E. Goldman and Stacey O'Rourke

Water damage is costly to both homeowners and insurance companies. It is estimated that the cost of household water damage in California, alone, exceeded $500 million for 2002. While the number of water-related claims varies year to year, the average amount paid for such claims increased steadily from $2,577 in 1988 to $3,646 in 2002.

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