Insurers are flooded with escape of water claims
Nearly one in five claims made on buildings and contents insurance is for damage caused by escape of water, costing £2m every day, according to research from the Association of British Insurers.
The insurer trade body found that last year, 371,000 such claims were made with the average claim just under £2,000.
Allianz Insurance has also released new data which has revealed that in 2010, the amount paid by the insurer in domestic water damage claims jumped by 44% compared to the previous year.
Allianz's research has shown that the top four origins of water damage in the home are: feeder pipes (39%), bath/shower (11%); toilet (9%) and radiators (6%).
The study also found that the most
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