insurance claims?

Question

Anually, what is the value of insurance claims due to water leaks

Answer 1

Do you mean on the entire planet? A specific continent? A specific insurer? A specific state or country?

Answer 2

Generally, residential insurance does not cover the item that failed, but does cover the damage done by the failure. In other words- if your water heater leaks, you don't get a new heater, but floor/furniture damage etc, done by the water leakage is covered. Ground water, such as foundation seepage or any water entering from the outside at ground level is generally excluded. That's where flood insurance comes in. Deductibles vary, but they always impact what a claim is worth as well.

Answer 3

If the water leak is covered as you have hinted, you would get the deprecitated value of your personal property damaged, unless you have a replacement cost homeowners policy.

Answer 4

It can go anywhere from nothing, for uncovered claims, to the policy limit for total losses.

Water damage claims are the #1 homeowners physical damage claim.

Answer 5

worth of the house

Answer 6

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Answer 7

£1.38