Storms also a problem area, but fire claims are down
Water escape has accounted for 28% of residential and commercial property claims this year, according to statistics released today by Lockton.
Storms have also proved a problem area, accounting for 23% of circumstances and claims between January and September.
Claims resulting from instances of fire are down nearly 70% from 2006 (69%), accounting for 21% of claims so far this year.
Steve Bracey, managing director of Lockton’s Real Estate & Construction division, said: “There has been a marked increase in the number of water escape claims – with the statistics for 2007 already at 28 per cent – up from 16 per cent last year. These figures highlight that this danger is not just a problem for the construction industry.”
“Residential and commercial property landlords would be well advised to take notice of these results. For every piping problem and plumbing predicament there is a potentially expensive claim in the locker. These all add up; taking a little extra time and care to ensure that your house is in order is an extremely prudent option”, he added.