Leaks cost Brits £1.8bn
March 12, 2007 by admin
Filed under News, News-Insurance
Leaking water is causing billions of pounds worth of damage in our homes each and every year.
New research shows that around 3.3 million homes are affected by leaks on an annual basis with the costs running to £1.8 billion.
Halifax Home Insurance has carried out a study into the problem and found that the most common sources of a household leak are washing machines, dishwashers, burst water tanks, pipes, showers and baths.
Homeowners are being advised to make sure that they check appliances regularly to ensure that any potential problems are spotted early.
“Changing fashions in the housing market have increased the likelihood of homes being damaged by leaking water,” explained Vicky Emmott, senior underwriter at Halifax Home Insurance.
“The trend for homes with multiple bathrooms and the current vogue for wet rooms have significantly increased the risk of water leaks and damage in the home.
“Older properties are vulnerable as a result of corroding pipes, which face increasing strain as Britain endures ever more extreme fluctuations in temperature as a result of global warming,” she added.
Halifax says that 36 per cent of British homeowners are running the risk of losing out financially as they do not have building insurance that covers water damage.
It is vital that homeowners take out insurance to cover themselves against potential disasters, particularly with increasingly unpredictable weather affecting the UK.
