Although the cost of water extraction varies depending on a number of factors, it usually costs about $2,000 on average. It's also important to remember that water extraction is just the first step in the repair process. The water damage repair company you employ will then need to take the steps required to dry your building materials to a safe standard. If the walls become too wet, health and other problems such as mold may arise. This frequently includes removing water-damaged areas and installing drying equipment on your house. However, insurance providers also cover the expense of water extraction, so you do not have to worry about it.