‘Ticking time bomb’ driving up claims

‘Ticking time bomb’ driving up claims | Insurance Business

‘Ticking time bomb’ driving up claims
IAG has warned that fault flexible hosing beneath sinks could be a “ticking time bomb” as they are the leading cause of household water damage.

Claims data from the insurer shows that flexible hoses accounted for 22% of water damage claims in Australian households in 2016 and the insurer has warned that sinks should be checked for damage.

Properties between 11 and 30 years old were most likely to suffer an escape of water claim, the insurer noted.

Cheryl Chantry, executive general manager, short tail claims for IAG, said that the business recommends inspecting flexible hoses every few years in a bid to reduce rising risks.

“Our research shows that flexible hoses only last around 10 years and as they’re typically out of sight and out of mind, it’s not something you’re probably thinking about replacing,” Chantry said.

“We are now finding a rise in damaged bathrooms and kitchens due to flexible hoses bursting. Over time, they can deteriorate and become a ticking time bomb in your home.”

Flexible, or braided inlet hoses, connect water from the wall outlet to the taps under sinks, basins and tubs and can be checked and replaced easily.

To lower risks, clients should work with a professional plumber to install new hoses, replace affected hoses and should set reminders to check and replace hoses in the future.

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