- 15
- Mar
Water leaks in the home are costing consumers £1.8 billion every year, it has been revealed.
Figures released by Halifax Home Insurance suggest that leaks from domestic appliances and burst pipes affect some 3.3 million households every year.
However, with 36 per cent of consumers claiming to not have buildings insurance, an average incident costs some £560 to put right.
Meanwhile, about 60,000 Britons per year face bills of more than £10,000 and without any insurance could find themselves taking out a personal loan to meet the costs of repairing any damage.
Senior underwriter Vicky Emmott said: "The trend for homes with multiple bathrooms and the current vogue for wet rooms have significantly increased the risk of water leaks and damage in the home."
"Long working hours in the UK would account for many leaks going undetected for a significant period of time," she added.
According to Moneyfacts, rising personal loan interest rates over the last month could mean sub six per cent loans are in danger of becoming "extinct".
Interfinancial providing you with breaking personal loans news.
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