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Water Damage Tops List of Insurance Claims

Water damage, fires and careless behavior by neighbors are the most common risks for homeowners and tenants, a Russian insurance firm said Tuesday.

The findings, compiled by AlfaStrakhovanie, also showed that burglaries at properties it insures were five times more common in 2012 compared with the previous year.

AlfaStrakhovanie said that roughly 69 percent of its clients' claims were related to water damage due to faulty plumbing, while fires accounted for 10 percent of claims.

Damage by neighbors was the third most common complaint, representing about 7 percent of last year's claims, the company said, adding that the top risks remained unchanged from the previous year.

But burglaries, which only accounted for 0.7 percent of claims in 2011, were the fourth greatest risk for homeowners and tenants in 2012, making up 3.4 percent of claims.

The least common risk was "falling flying objects," which accounted for 0.3 percent of claims last year. AlfaStrakhovanie, part of billionaire Mikhail Fridman's Alfa Group consortium, insures more than 12 million customers and more than 320,000 businesses locally.

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