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Saturday 30 August 2014

Damage from water tops claims

Charlie Weston Personal Finance Editor

Published 17/03/2014 | 02:30

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Flood defences
Flood defences

Water damage from leaking pipes and washing machines breaking down is the most common reason for home insurance claims, new figures show.

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Fire damage tends to be the more expensive, but water damage is more prevalent.

Almost a third of claims made by householders results from water damage and the average cost of accidental damage from water is €2,575, according to a review of claims by broker GetCover.ie.

Fire causes the most financial strain, with an average cost of €15,000 for householders trying to rectify the damage.

David Hughes of GetCover.ie said that many people are hugely concerned over the possibility of a break-in, but this only accounts for one in eight claims.

Irish Independent

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