Is That A Damp Patch?

Summary
Recent research shows that water damage constitutes one of the highest risks to our homes. The average insurance claim for leaks is around 560 pounds a year. Home emergency cover could be a good option.

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Life Insurance News

One of the highest risks to all household property comes from water leaks in our homes.

In Britain , we pay out over 1.8bn pounds every year to repair the damage, according to research by Halifax Home Insurance

The company's head of pricing, David Rochester says: “Changing fashions in the housing market have increased the likelihood of homes being damaged by leaking water. The trend for homes with multiple bathrooms and the current vogue for wetrooms have significantly increased the risk of water leaks and damage in the home.”

He also thinks that older properties are at risk as a result of corroding pipes, which face strain because of more extreme temperature fluctuations due to global warming. Many leaks go undetected as a consequence of long working hours.

Halifax reveals that the average claim for water leakage in the home is about 560 pounds a year but some 60,000 Britons will face bills of more than of 10,000 pounds.

Norwich Union claims that one of the main problem areas is faulty plumbing joints, which could be due to the amount of people tackling plumbing jobs themselves.

Damage caused by water leaks in the home is usually covered as standard in both building and contents insurance (as long as you are not away from your home for more than 30 or 60 consecutive days) but the price of repairing the faulty pipe or water tank that was to blame in the first place is not usually covered.

As long as you take reasonable precautions – like getting someone to check your house regularly- there is not usually a problem in getting increased cover if you are going to be away for longer than 30 days.

You can also consider putting 'home emergency' cover on to your policy. This costs about 4 or 5 pounds a month extra. Home emergency cover with Esure, for example, is 3.33 pounds a month, and will include up to 500 pounds (materials and parts up to 100 pounds) for emergency call-out charges and up to two hours of labour costs.

Halifax Home Insurance, Cornhill Direct and Norwich Union all offer similar packages.

In addition to making sure you are protected against water emergencies, there are other measures homeowners can take to avoid damage.
Frances Browning, spokesman for Churchill Insurance, urges customers to remember that loft insulation should be placed on top of pipes, not underneath them. If your water tank is situated in the loft, make sure there is not any loft insulation underneath it, as this could prevent rising heat reaching it.

Simon Coughlin, a spokesman for insurer Cornhill Direct, says everyone should know where the main stopcock is located and how to turn it on and off. All pipes and tanks in the loft should be fully lagged as should those situated anywhere else where they might be liable freezing.

He recommends that if your home is not occupied overnight in the winter months then the heating should be left on low and the loft door should be left open so that warm air from the rest of the house can circulate and help to stop pipes from freezing. If a pipe does burst, Water should be turned off at the main stop valve and the central heating and any other water heating installations also need to be switched off. If wiring or electrical appliances have been subject to damage, they must not be touched except by a professional electrician.