From one of my partner insurer and friends at Cincinnati Insurance:

https://www.cinfin.com/personal-insurance/risk-management/avoid-water-damage-losses

WATER DAMAGE

Water damage losses can happen in any season and every home has potential sources of water damage:

• Failure of water supply lines to appliances, sinks, wet bars or toilets
• Burst pipes due to age, freezing or disrepair
• Water heater failure
• Plumbing or appliance failure
• Overflow of plumbing fixtures
• Faulty construction

The process to restore your home after a water loss can easily take months. Worse than the inconvenience is the potential for damage to irreplaceable belongings such as photographs, artwork or keepsakes.

WATER LOSSES BY THE NUMBERS¹

From 2014 to 2018, losses from water and frozen pipes were the third costliest type of loss, behind fire and liability. 

• The average claim cost $10,182
• Water claims were the second most frequent cause of loss to homes, behind wind and hail
• About one in 50 insured homes has a property damage claim caused by water damage or frozen pipes each year

¹Insurance Information Institute