Escape of water claims on the rise
Escape of water claims are on the rise, but there is light at the tunnel for insurers
It was recently reported that claims for household water leaks are up by more than 30% in the first quarter of 2021, compared to the same time last year.
The UK’s leading insurance bodies are now working together to raise awareness of how customers can reduce the risk of an escape of water in their properties.
An escape of water claim can result from many issues, such as a burst pipe, backed up drain or a flood caused by heavy rain.
Chris Edwards managing director at DASA comments:
“There are many reasons for this increase, we have all been spending much more time at home as a result of the Covid pandemic with more potential for damage.
“There has also been a huge increase in home improvements and with popular design features such as ensuite bathrooms, under floor heating and hidden pipework, leaks are becoming harder to spot, leaving the potential for further damage.
“DASA works with many of the country’s leading insurers. We have always advised their policy holders on the preventive measures that you can take to avoid damage, such as fitting a leak detection device, ensuring that drains are cleaned regularly and employing a reputable builder to complete any home improvement work.
“However, when claims do occur insurers need to guarantee that the work Is going to be completed to the highest standard and as quickly and efficiently as possible. With more awareness of the potential risks , we do believe that escape of water claims will still continue to rise.”
Over its many years in the industry, DASA has developed market leading solutions for its insurance clients. The companies joined-up end to end approach manages claims from start to finish, fixing the issue and then reinstating the customer to their pre loss condition.
“Our solution not only reduces the lifecycle of the claim and overall cost but provides a highly sustainable solution for insurers.” Continues Chris.
“Restoration over replacement is always our key strategy. Driving down costs and timescales whilst helping the environment along the way.”