Home Insurance: 43% of UK Homes Suffer Water Escape, Says Leakbot Survey

Almost half (43%) of domestic properties in the UK have suffered water leaks, according to new figures released from LeakBot, the smart water leak detection system which is trusted by leading insurers including Aviva, Hiscox, Legal & General, Neos and RSA. The real-life data, scientifically collected from a sample of 1000 LeakBot devices, has, for the first time, revealed the extent of the potential water damage from undetected water leaks in UK homes.

LeakBot is not just a device. It is an end-to-end claims mitigation system, specifically designed to tackle water damage claims. As well as helping consumers prevent water wastage and potential damage to their properties, it offers insurers a complete solution for their customers to prevent damage through escape of water in the home – the second biggest cost to the global insurance industry.

The data reveals that the average flow rate for a domestic property with an active leak is 20.63ml per minute, which amounts to 30 litres of water wastage per day if left unrectified. This amounts to approximately one fifth of the average domestic water usage per person per day. Over a year, this can escalate to 10,843 litres per year which if left untreated has the potential to cause problems for consumers and insurers through escape of water damage at home.

Craig Foster, CEO and creator of LeakBot said: “The level of water escaping from previously undetected sources is significant and can have huge implications for insurance claims, but identifying the problem early can prevent much more serious issues in the future.

Water damage is not only expensive – average claims for escape of water are around £2,638 – but also damaging to housing infrastructure and the environment. The risk of damage from hidden water escape is huge, particularly as more and more homeowners are opting for new design features such as underfloor heating and concealed toilets. Leaks from these new features can be harder to detect and can cause serious damage if left undetected for a long period of time.”

“Using smart home technology such as LeakBot, water leaks can be fixed before they become much bigger problems. This allows insurers to save money on claims and even to tailor policies for individual customers based on the insights generated. That’s why we’re partnering with major insurers across the UK to offer LeakBot to their customers to help fix these problems quickly to reduce insurance claims.”

About alastair walker 10924 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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