Largest property claim source is water escape say Lockton

by Richard Kilner

Story link: Largest property claim source is water escape say Lockton

Lockton’s statistics, revealed today, show that over a quarter (28%) of residential and commercial property claims made this year are for water escape.

Another area responsible for many claims are storms which accounted for 23% from January to September this year.

Lockton’s Real Estate & Construction division MD, Steve Bracey, has said that already this year water escape claims have increased by 16% this year compared to last, emphasising that it is not merely an issue for the construction sector.

Bracey added that landlords ought to take notice of the statistical findings, explaining that for every problem with a pipe there could be an expensive claim. He also suggested that prudent home-owners should make sure their house is in order.