The Devastating Effects of a Water Leak…From a Small Leak to a Swimming Pool?

A burst pipe can cause a significant amount of damage in a very short space of time. Imagine that you go away with the family for a weekend, and return two days later to find several inches of water covering the whole of your downstairs. We’ve all seen the devastating effects of flooding on the TV, but an escape of water claim can have just as much of an impact, if not more.

This is particularly the case if the leak is from a water leak or burst pipe upstairs, meaning the damage is over several floors. Carpets, ceilings, floors and potentially even walls will need to be removed and replaced. The costs mount up, and what was just a simple undetected water leak, ends up costing a six figure sum.

At least you are well insured, but have you thought about the personal impact on you?

• The reinstatement works will take 4 months
• You may have to move into temporary accommodation for the duration of the works
• The vast majority of your contents will need to go into storage
• Your insurance premiums will inevitably rise and you will have fewer options when shopping around for alternative insurers

So whilst your insurers will pick up the cost of the repairs and alternative accommodation, there is nothing which can compensate for the stress, disruption and personal impact on you. Some facts for you:

• Nearly one in five claims made on building and contents insurance is for damage caused by escape of water
• According to the Association of British Insurers in 2018, British Insurers paid out almost £8 million a day on domestic escape of water claims alone

So the key to minimising the damage and the personal impact on you is to detect the leaks early. Fortunately there are now numerous companies offering leak detection and prevention devices which can dramatically change the outcome of a water leak, not only reducing the overall cost but also minimising the distress caused to you.

The systems available offer varying ranges of protection from simple detection, that alerts you if there is a leak, to others that will shut down the water supply if a leak is detected. They offer 24/7 monitoring giving you added peace of mind that should a leak occur, the resultant damage will be minimised significantly.

Many insurers now offer basic systems when you purchase their insurance or have agreed discounted rates with their preferred suppliers.

Talk to us about your insurance requirements, we have a range of policies that can be tailored to suit your needs. Please contact Tim Mayhew at tim.mayhew@lycetts.co.uk