Legal And General report that in the UK alone during 2011, water damage caused through leaks and floods in homes, has cost the Insurance Industry an estimated 730 Million pounds.
Much of this cost will be passed onto the customer through higher premiums, and higher excess rates.
Whilst an exceptional winter at the beginning of the year was responsible for a higher than usual amount of water damage claims, many of those claims were avoidable had the customer known where their stop cock was located, and how to securely shut down the mains water supply.