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TheStreet Open House

Survey Finds Most Power Outages Contain Associated Costs

Stocks in this article: BGG





MILWAUKEE, May 7, 2014 /PRNewswire/ -- Almost 70 percent of U.S. adults who endure a power outage are saddled with subsequent household costs, according to a recent national survey.

Briggs & Stratton Corporation logo.

A Harris Interactive survey sponsored by Briggs & Stratton Corporation (NYSE: BGG) found 69 percent of U.S. adults surveyed, who had experienced an outage for more than 12 hours in the last two years, reported household costs ranging from spoiled food replacement to property damage repair.

"Power outages are sometimes regarded merely as an inconvenience that will be over shortly, but there are a lot of real-world issues that can occur when the power goes out," said Amanda Grandy, marketing manager for Briggs & Stratton. "This survey brings to light the issues that can affect a family when the home goes dark and hopefully gets people thinking about preparing now before the next outage."

According to the survey, 40 percent of respondents who endured an outage in the last two years identified replacing spoiled food as the most common outage-related cost. Supply purchases (e.g. firewood, blankets, candles, flashlights) were made by 29 percent of respondents, followed by portable generator purchases (16 percent), lost wages from work time off (13 percent), property damage (11 percent), and hotel stay during power outage (8 percent) were other outage-related costs reported.

The 11 percent reporting property damage (e.g. sump pump repair, basement flooding clean up and theft) had the highest costs. The group reported an average cost of $1,916. The second highest cost pales in comparison with the 16 percent who purchased a portable generator averaging $650.

"The survey showed the importance having lights on and appliances running properly in your home to ensure your family and home are safe," Grandy said. "Standby generator systems are the best way to prevent power outages from creating unwanted costs."

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