Wednesday 22 October 2014

Damage from water tops claims

Charlie Weston Personal Finance Editor

Published 17/03/2014 | 02:30

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.

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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