Water Damage the Biggest Costs to LandlordsMake Text Bigger
Leaky pipes and sinks cost the UK’s landlords £2million a day and over 9 billion litres of water a year, and accounts for a quarter of all insurance claims on flats, according to property insurance specialist Cadogan Keelan Westall.
They found the average water damage claim has cost nearly £3,000 this year as leaky pipes and appliances lead to further damage that require extensive repair work to flooring and plasterwork.
Steve Packer, Client Director at Cadogan Keelan Westall said: “Water damage is both costly and disruptive to landlords and tenants and it continues to account for the largest number of claims in flats.”
Although, they believe landlords are heeding warnings already issued.
“However, the good news is that we are seeing a slight decline in claims and this may be due to better awareness of preventative measures to limit water damage. We have been working closely with Waterguard Services, who offers an innovative solution for Residential and Commercial properties designed to prevent water damage, by automatically shutting off the water supply in the event of a burst or major leak. “
“I would urge all property owners to consider preventative measures for water damage so they are adequately protected. It will save time, money and disruption in the long term.”
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