Water Damage Hitting Home Insurance

Water damage claims on home insurance policies, including burst pipes, went up over 40% last year adding significantly to the cost of these policies.

Allianz research shows that in 2010 it paid out 44% more in water damage claims than in the previous year.

Not only can water damage be costly to repair it also makes a mess of homes and can damage items, such as photos and documents, that cannot be easily replaced.

The top origins of water causing this damage are feeder pipes, bath/shower, toilet and radiators with the kitchen, main bathroom, lounge and main bedroom being the mostly likely room t be affected.

Allianz’s Head of Home Management, Gareth McChesney, said: “It is difficult to know why we are seeing this sudden increase in the number of claims but we recommend that all water connections should be inspected regularly to ensure they are not corroding.

“Also, if in doubt about a DIY job, using a professional could be a lot less stressful and less costly in the long-run.”

The most expensive claims are caused by open pipes which are not concealed or contained in a wall cavity. These claims cost an average of £7,547, which is around £4,000 higher than the average.

Water claims account for almost 30% of all claims costs at Allianz.

MoneyHighStreet comments: “These water claims costs are surprisingly high.

As you assess your home insurance requirements you may want to consider whether you need accidental damage cover.

“This can provide cover for example for example if your DIY activity ends up with you hammering a nail into a pipe as you try to hang a picture – although avoiding the pipe in the first place is of course the best option!

“Whilst we might be enjoying summer at the moment, take a moment to consider burst pipes too. Did you know that if you leave your home or holiday home for long periods you may not be covered for this issue? Even if you are you will most likely have to adhere to certain conditions, such as leaving the heating on low.

“Make sure you understand what your insurance policy does and does not cover you for.”