‘Wet room’ trend pushing up home insurance costs
surging demand for trendy ‘wet rooms’ and wooden flooring is driving up the cost of home insurance, it was claimed.
insurers warned leaks are more common due to the extra pipework needed for the increasingly complicated requirements of new homes.
Many middle- class families often demand a downstairs toilet, adding further complexity.
And it is considered deeply unfashionable to have exposed pipework on show – meaning if there is a leak, it can go undetected for days and potentially cause massive damage.
Families are also tending to spend more on their kitchens and choose wooden flooring instead of carpet, making repair bills more expensive.
The average claim for water damage has risen from £1,500 in 2013 to £2,500 today, according to the Association of British insurers.
senior policy advisor Laura Hughes said: ‘The industry is seeing a noticeable increase in the cost of claims caused by water leaks inside homes, which ... we’re investigating.
‘ There are likely to be a number of reasons, including that there is now more water flowing around homes because of an increase in the number of appliances, bathrooms and underfloor heating.
‘Much of this is integrated or concealed, so minor leaks may not be noticed until they have caused significant levels of damage.
‘There is also an increase in more expensive fixtures and fittings ... which cost more to repair and replace.’
industry insiders also said shoddy workmanship was causing problems as families and hobbyists attempt to install their own plumbing.
several big firms have warned that all this is pushing up the average insurance premium. Home insurance prices rose 7 per cent in the 12 months to July, hitting an average £131, according to research firm Consumer intelligence – the fastest rate for three years.
insurers Direct Line group and RSA have both warned that rising costs from water claims are pushing prices up, and sources close to rival Esure said the same thing yesterday.
surging water leak costs are not the only problem faced by hard-pressed homeowners.
The insurance industry has come under fire for luring new customers with low prices for their first year, then hiking costs if they forget to switch.
Critics say it punishes loyalty and means busy or forgetful people get hit with steep rises in their bills.
The rip- off costs were highlighted in a Mail campaign earlier this year.
soon afterwards, Aviva boss Mark Wilson announced plans for an overhaul of fees which he had been working on for the previous 12 months.
speaking at Aviva’s annual meeting, Mr Wilson said: ‘There’s the broader problem of steep price rises when artificially low introductory discounts come to an end.
‘This means across ... when customers come to renew, they often get quoted more.
‘The market is broken. i don’t like it and neither do our customers. This dysfunctional market is a problem for the whole industry. it requires an industry-wide solution.