This study examines the validity of constant failure rates in the reliability assessment of storm surge barriers, with a focus on the Stormvloedkering Oosterschelde (SVKO). Analysing a dataset of 1,501 malfunctions, including 87 critical incidents over six years, we employ Exponential and Weibull statistical models to assess failure rates. The research question—whether the assumption of constant failure rates over time is valid—is addressed with a nuanced perspective. The findings in this study reveal that neither model conclusively fits all failure scenarios, with some data supporting constant rates and other data indicating variability. The Weibull model better describes certain scenarios, suggesting variable failure rates, while in other instances, both models show comparable performance. The p-values from hypothesis testing and visual inspection of component data provide inconclusive evidence, leading to the suggestion that both constant and variable failure rates may exist in storm surge barrier components. The research contributes to the field by challenging the prevailing assumption of constant failure rates, developing a statistical framework, and by suggesting the need for a flexible, scenario-specific approach to modeling failure rates for improved reliability assessments.