Water Leaks Costing £2bn a Year
The Association of British Insurers has claimed that nearly one in five building and contents claims in the UK is for water leaks and that this is costing the insurance industry £2 bn a year.
In fact enough water leaked from UK homes last year to fill 3,880 Olympic sized swimming pools. In many cases poorly completed DIY jobs were to blame.
Nick Starling from the ABI has said that water is a precious resource and it is a real concern that water is leaking at such a rate. He points out that even the smallest of leaks can very quickly become incredibly expensive.
According to insurer Allianz, the top reasons for water leaks in the home are damage to feeder pipes, problems with the bath or shower, a broken toilet and leaky radiators. In terms of the rooms affected, the kitchen came out number one followed by the bathroom.
It was also found that the most expensive claims come from pipes which are hidden in walls which can cost £4,000 more to fix than other types of leaks.