Termite Cost And Damage Statistics
It is well-established fact about termite that their damage causes considerable loss but in term of monetary value, estimates are about billions of dollar.
Termites damage is more than the damage caused by tornados, fire, and floods combined.
Yes! this fragile looking adorable creature cause billions of dollar loss due to their love for wood. These are carefully estimated values of different stakeholders around the world.
Currently there isn’t any government official damage cost statistical reports are available, a major reason for this unavailability of reports may be because every incident is not reported to the government, moreover, this is hectic and elaborative work which require quite big workable human workforce which economically not justifiable.
So, the government and other renowned organization make these estimated reports based on data provided to them by private companies, which usually have area wise and client base assess incidents.
By gathering these data and systematically verifying them, damage cost assessment report is established which considered being authentically backed by the government.
Let’s have a look individually how much termites damage cost assessment is being around the world.
Termite damage is quite higher than visual observation because they don’t show up earlier. Damage done by them is estimated by adding different factors which included in the control program.
Damage cost estimation has a series of minor costs, for example damage assessment cost, labor cost which is going to removed rusty part of infestation, treatment cost which include cost of chemicals plus cost of application, cost of exterminator, cost of cosmetics of infested area; all these costs are short term and must be paid immediately.
Long term cost assessment is a devaluation of such property which have a record of high infestation must be kept in mind.
These costs may vary according to locations, structural type, damage severity and different geographic locations around the globe.
National Pest Management Association says only 50 percent homeowner take action against termite, even if the fear about the high infestation and the high cost of damage. Furthermore, summer is the season of termites peak, and most busy for pest professional.
Damage Cost In The United States
- Almost 600,000 homes in the US are being affected each year estimated by Orkin. These are the numbers which have been reported officially by either government or through private sources.
- US residents spend $5-6 billion annually to control these pests.
- $2 billion is the cost of assessment and removal of affected parts by labor which is not directly associated with termination or expulsion of termites, but it is basically a prerequisite to getting access to infestation area.
- According to Orkin damage cost by termites to crops and man-made structure combined is estimated $30 billion annually. As termites economically damage both human property structure as well as crops in the fields.
- Damage cost of single homeowner varies between $3000-$6000 depending on severity and structure of the house.
Damage Cost In Australia
- According to TermiKill average 130,000 homes been damaged by termites each year across the country.
- Average repair cost of a single house is $4000-7000.
- Annual damage cost by termites is estimated to be $1.5 billion annually.
Global Spending On Termite Damage Cost
American is far ahead from the rest of any country in spending money to control termite problems because of they know the consequences and estimation of damage. In 2016 North American region was valued $1,165.79 million in spending to control termites, more than any region of the world says Termite Boy.
How Termites Damage The Structure?
According to Orkins each year $1-2 billion dollars in structural damage which includes floors, wall studs, attics, ceilings foundations, etc. this damage cost is not covered by home insurance, so all the burden lifted by homeowners.
Common signs of structural damage of termites are:
- Crack or small holes in the walls
- Cracked or peeled paint on the walls
- Wood damage and hollow wood sound
- Mud tubes on the walls
- Rusty surface around affected areas
- Sagging ceilings and floors
- Presence of small white wings around the place of infestation
Their symptoms show much later than the original damage, that’s why pest professional says prevention is only the solution then. If infestation starts it only be worsened if not mitigate timely.
Damage also categorized by types of termites attacking the structure, according to professional Formosan termites are more destructive than Subterranean termites, former one have the ability to completely damage you structure within six month because every termite consume three times its body weight and God knows how many millions are there underground.
So preventive measure has significant control than curative measure.