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Insurance experts highlight problems of water damage for SMEs

28th October 2011
The importance of commercial property insurance for small businesses has been reinforced by figures from the Association of British Insurers (ABI) which show 370,000 people made claims for water damage last year.

The majority of claims within commercial properties as a result of water damage, cost an average of £2,000. A number of the issues arose for SMEs as a result of the particularly harsh winter experienced in the UK with the ABI estimating the industry paid out £7 million due to damage caused by burst pipes.

Financial service providers, Legal & General, also experienced an increase in claims for frozen pipes, increasing from 1.3 percent of all claims in 2009 to 6.5 percent of claims in 2010.

Read the full story Insurance experts highlight problems of water damage for SMEs on inspiresme.co.uk today.

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