QBE has identified water damage as the most expensive issue for landlords. The Australian insurer said a review of its data showed flood and storm damage accounted for 34% of recent claims, with issues relating to faulty pipes, leaks or water supply responsible for 21%. “While we are not aware of any specific cases where this type of problem was caused by flooding, it is important that owners take care when dealing with their property in these circumstances,” Mr McGold@@ QBE said landlords could reduce the risk of water damage with better maintenance and property care, as well as implementing preventative measures like cleaning gutters.
QBE has identified water damage as the most expensive issue for landlords. The Australian insurer said a review of its data showed flood and storm damage accounted for 34% of recent claims, with issues relating to faulty pipes, leaks or water supply responsible for 21%. In comparison, rent payments and theft comprised only 12% and 10% respectively, while electricity problems led to 6% of claims. QBE said landlords could reduce the risk of water damage with better maintenance and property care, as well as implementing preventative measures like cleaning gutters.