HomeServe USA study finds 53% of homeowners had repair emergency over past year
When it comes to home repairs, most homeowners need assistance dealing with problematic heating and air conditioning systems and malfunctioning toilets.
According to 10th edition of HomeServe USA”™s Biannual State of the Home Survey, 53 percent of American homeowners had a home repair emergency during the past 12 months. The most common problems are HVAC-related (19%) and blocked or overflowing toilets (15%) ”“ the latter becoming more prevalent during the COVID-19 pandemic when toilet paper shortages resulted in cleaning wipes, tissues and even socks being flushed down the drain.
The survey also found 33% of homeowners have less than $500 or nothing set aside for an emergency home repair and 17% had no money set aside at all. Half of the surveyed homes where the annual household income is less than $50,000 are financially prepared for home repair emergencies.
The survey determined many younger Americans were clueless regarding who was responsible for covering certain common home repairs: 14% of respondents between the ages of 18 and 34 were aware that a homeowner is responsible for a repair to a water pipe connecting a house to the water provider system at the property line or street, while 21% knew the homeowners”™ responsibility if raw sewage suddenly backs up into a home from a blockage or break in the sewer pipe in the yard. In comparison, there was considerably higher awareness of homeowner responsibilities among respondents ages 55 and older.
“We hear from municipalities all the time that homeowners get very frustrated when a water or sewer pipe on their property fails and they find out that they are financially responsible for the repair ”“ not the city and not homeowners”™ insurance,” said John Kitzie, CEO of the Norwalk-headquartered HomeServe USA.
“The findings of this latest survey clearly show that homeowners, especially younger ones, are unaware of their responsibility when it comes to common home repairs. At HomeServe, we are committed to educating homeowners and providing them with smart financial planning tools so they are prepared when an inevitable home emergency strikes.”
The survey was conducted from March 30 to April 1 among 2,026 adults, of whom 1,454 are homeowners.