The cost of water damage cleanup depends on the size of the flooded area and amount of time needed to thoroughly handle the water repair. IF your insurance policy covers water damage restoration, you are typically only responsible for the deductible. Because water can move so quickly and be extremely destructive, if not promptly removed with the right equipment, there can be even bigger problems like mold growth and even structural damage. When done properly, fixing water damage can take several days, varied equipment and tests as well as labor; which have varying costs.