A small water pipe leak in a wall, floor, or ceiling can easily be the costliest type of water damage you will ever experience in a commercial building.
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Could anything be more stressful than knowing a pipe in your commercial building is leaking water but can't find exactly where?
Water damage costs to our homes and businesses are immense. Flooding, broken pipes and minor, hidden leaks are the leading cause of commercial property insurance claims. Allianz Global Corporate & Security, in an analysis of nearly half a million claims between 2013 and 2018 from over 200 countries and territories, found that water damage accounted for the third-highest number of insurance claims for global business.
A tiny sensor could save many large buildings enormous amounts of money and make the difficult work of facilities management substantially more straightforward.
There is no doubt that the modern workspace is evolving. New workplace attitudes, fueled by the global pandemic, have centered the office as the hub for collaborative work while also being responsible for an employee’s well-being and productivity.
When thinking about commercial buildings, the terms ‘larger-scale’, ‘more expensive’ and ‘more stakeholders’ may come to mind. These qualities are exactly why the impact of water leaks can be so devastating and is reflected in the average loss for commercial buildings at $1.4 million, compared to domestic homes at just under $4,000 [ref].