Risk Score
A data-driven assessment of your appliances' health—so you can prioritize maintenance and budget for replacements.
What is Risk Score?
The Risk Score is HomeLifeSpan's way of telling you: "Hey, this appliance might need attention soon."
It's a number from 0-100 that combines multiple factors to estimate how close an appliance is to the end of its useful life. Higher scores mean higher risk of failure.
| Score Range | Risk Level | What It Means | |-------------|------------|---------------| | 0-25 | 🟢 Low | Appliance is likely in good shape | | 26-50 | 🟡 Moderate | Getting older, keep an eye on it | | 51-75 | 🟠 High | Plan for replacement soon | | 76-100 | 🔴 Critical | At or past expected lifespan |
Note
Risk Score is a planning tool, not a crystal ball. A high-risk appliance might run for years more, while a low-risk one could fail tomorrow. Use it as a guide for prioritization and budgeting.
How Risk Score is Calculated
HomeLifeSpan's Risk Score algorithm considers several factors:
1. Age vs. Expected Lifespan
The primary factor. We compare your appliance's age to industry-standard lifespan data:
- A 5-year-old refrigerator (typical lifespan: 12-15 years) → Lower risk
- A 12-year-old refrigerator → Higher risk
- A 20-year-old refrigerator → Very high risk
2. Category-Specific Data
Different appliance types have different lifespans:
| Category | Typical Lifespan | |----------|------------------| | Refrigerator | 12-15 years | | HVAC System | 15-20 years | | Water Heater | 8-12 years | | Dishwasher | 9-12 years | | Washer/Dryer | 10-13 years | | Microwave | 8-10 years |
3. Warranty Status
An expired warranty can increase the risk score slightly—not because the appliance is more likely to fail, but because a failure would be more financially impactful.
Tip
Keeping accurate purchase dates is key to accurate risk scores. Even an approximate date helps!
Viewing Risk Scores
Individual Appliance Risk
Click on any appliance to see its risk score with a breakdown of contributing factors.
Property Overview
Your dashboard shows:
- Average Risk Score across all appliances
- High-Risk Items that need attention
- Risk Distribution showing how many appliances fall into each category
Portfolio View (Landlords)
If you manage multiple properties, the portfolio view shows risk scores across all properties, helping you prioritize where to focus resources.
Using Risk Score for Planning
Prioritize Maintenance
High-risk appliances should get extra attention:
- Schedule preventive maintenance
- Have a repair technician do an assessment
- Research replacement options and costs
Budget for Replacements
Use risk scores to plan your replacement budget:
- Critical risk (76-100): Budget for replacement this year
- High risk (51-75): Start saving and research options
- Moderate risk (26-50): Note it for future planning
Insurance Claims
When documenting your home for insurance, risk scores help you identify items that might need updating in your coverage.
Don't ignore high-risk appliances
A failing water heater or HVAC system can cause significant damage if it fails suddenly. High-risk items deserve proactive attention, not just replacement planning.
Improving Your Risk Profile
Add Missing Dates
Appliances without purchase dates get estimated ages based on averages, which may not be accurate. Adding actual dates improves accuracy.
Replace High-Risk Items
When you replace an appliance, update it in HomeLifeSpan. Your overall property risk score will improve, and cost forecasting will reset for that item.
Regular Maintenance
While risk score is primarily age-based, well-maintained appliances often outlast their expected lifespan. Use Maintenance Tasks to stay on top of care.
Risk Score vs. Other Features
| Feature | Purpose | |---------|---------| | Risk Score | "Which appliances need attention?" | | Cost Forecasting | "How much will replacements cost, and when?" | | Replacement Planner | "What should I replace and in what order?" |
These features work together: Risk Score identifies problems, Cost Forecasting quantifies them, and Replacement Planner helps you act.