Data show claims for water damage from inside leaks have surged while other types of claims have fallen
More American homes are flooding from the inside.
Old pipes and valves, worn-out hoses on second-story washing machines and faulty connections for a proliferation of water-using appliances are causing a surge in increasingly expensive damage reported to insurers. The increase has occurred even as many other types of claims—including fire—have declined in frequency, according to industry figures.
One in 50 homeowners filed a water-damage claim each year between 2013 and 2017…Read More