Myth 3. It s not a source of major losses for insurers
EOW has largest share of claims
Myth 4. It s modern properties that are affected the most
There is greater prevalence of water in the home:
76% of homes were built pre-1979 1970s 30% of homes had central heating, 65% a washing machine 2010s 95% of homes have central heating, 97% a washing machine and 45% a dishwasher *Source: Crawford s EOW
Home improvements and extensions feature more bathrooms and fitted kitchens, underfloor heating and other lifestyle choices.
It s not just new property, it s all property
What causes claims in buildings?
Malicious Damage 6%
Fire & Explosion 6%
Other 5% Impact 5% Flood 1%
Burst Pipes/ Escape of Water 31%
Accidental Damage/Loss 19% (Source: Zurich)