You might want to sit down before you read this – in case you’re using a Smartphone for example. If you’re wondering what the total cost of water damage is to people living in the United Kingdom every single year it’s probably a lot higher than you believed. The actual costs per day to households and insurance companies is over £2,000,000 – 2 million pounds sterling. That’s well over £700 million pounds sterling per year and with everything taken into account you’re probably looking at a total cost of well over £1,000,000,000 (1 billion pounds) per year.
Even more shocking is that water damage insurance claims are up well over 40% in the last few years and that well over 30% of all insurance claims in the UK are water damage related. The most worrying part is that there seems to be no readily identifiable cause for the increase in water damage claims over the last few years. The one potential cause for this spike in claims could be the unnaturally cold winters we’ve been having the last few years which could be causing ongoing damage to the pipes in your home as they’re frozen and then thawed out each winter – they eventually stress and just crack.
The most expensive claims also tend to be the ones in relation to open pipes or the even more damaging wall cavity leaks. To top it all off you’re looking at a repair bill of well over £7,000 for any water damage incident in your home or business and that doesn’t even come close to taking into account loss of earnings and damage to other household items. Oddly enough at £7,000+ a water damage claim costs almost £4,000 more than any other type of household damage claim.
You could have a lurking gas leak issue that hasn’t reared its ugly head just yet. If you’re in doubt then please call ADI today so we can look into these problems for you. We’re here to help.