Escape of water claim costs rise to £483m this year
The ABI revealed that claims have gone up 24% for the first nine months of 2017 compared to 2014 as it called on the insurance market to tackle the expense.
Claims costs for escape of water have risen 24% for the first nine months of this year compared to the same period in 2014 according to the Association of British Insurers (ABI).
The latest ABI data showed that, in the first nine months of 2017, domestic escape of water claims cost £483m, rising 1% on the same period in 2016.
Between 2014 and 2016 the total cost of domestic escape of water claims jumped by 24% from £529m to £654m and in the last three years the average cost of these claims has
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