In recent years, Spain has faced a true epidemic of household accidents related to water leaks. Across the country, millions of incidents are reported where water causes serious problems for apartment owners, tenants, and property management companies. Last year alone, specialists responded to over 4.6 million call-outs for water damage. This figure is not only impressive — it puts water-related incidents at the top of all property insurance claims.
Insurance companies have been forced to respond to a flood of claims. Over the year, they paid out more than 5 billion euros to cover damage not only to apartments but also to commercial and industrial properties. Water—seemingly so familiar—has become a major disaster for Spaniards, overshadowing even such troubles as theft, fires, or broken windows.
Loss geography
The highest number of insurance claims traditionally comes from densely populated regions. Madrid, Barcelona, Valencia, Sevilla, and Alicante lead in the number of incidents reported. In these provinces, every two seconds someone faces another emergency—a burst pipe, a leaking roof, or faulty plumbing. The average bill for repairs is about 484 euros, but in some cases, the amount can be much higher.
But it’s not just residents who suffer from water disasters. Shop owners, office managers, and even industrial enterprises regularly face the need for urgent repairs. In 2024, commercial properties accounted for nearly half a million insurance claims, while industrial sites saw almost 300,000. However, residential buildings and apartment complexes still top the list by a wide margin.
A financial blow
Water is not just a source of life—it’s also the main threat to household finances. In 2024, insurance companies spent more than 2 billion euros on payouts for water-related incidents. By comparison, fire damage cost 770 million, and weather catastrophes amounted to 518 million. This means water inflicts the greatest financial loss on both individuals and businesses.
The problem is particularly severe in apartment buildings and residential complexes, where more than one and a half million insurance claims were filed over the year. It’s not just leaks in individual apartments, but also damage to shared property: elevators, basements, facades. In such cases, the costs fall on all residents, and disputes with property management companies can drag on for months.
Not just water
While water-related accidents top the list in both frequency and total damages, other misfortunes are not far behind. Broken windows and emergency service calls rank second and third in popularity. Over 1.3 million such incidents were recorded over the year. Thefts, fires, and weather disasters are less common, but sometimes result in far more serious consequences.
Interestingly, recent years have seen a rise in insurance claims linked to extreme weather events. Heavy rains, hurricanes, and sudden temperature swings are increasingly causing damage to homes and businesses. However, even these threats have yet to knock water off its pedestal as the main risk to Spanish property.
Who pays
The main financial burden falls on insurance companies, which are forced to increase their annual payouts each year. In 2024 alone, more than 3 billion euros were spent on residential property—almost two-thirds of all compensation. Owners of commercial and industrial properties are also affected, though their share of total costs is notably smaller.
For residents and business owners themselves, the outlook is mixed. On one hand, insurance allows for quick resolution and recovery of lost property. On the other, the steady rise in incidents leads to higher premiums and stricter payout conditions. As a result, many are considering extra protective measures: installing leak detectors, regularly checking utilities, and even organizing collective repairs in residential buildings.
If you didn’t know, Unespa is the largest association of insurance companies in Spain, bringing together the leading players in the market. The organization analyzes statistics, develops industry standards, and protects the interests of insurers. Its data provides an objective picture of the property insurance market in the country and helps identify the most pressing risks facing Spaniards today.
