Winter freeze costs insurers £650m
The Association of British Insurers (ABI) has reported that its members paid out £650 million in total in dealing with claims arising from the coldest winter in the UK in thirty years.
Policyholders submitted 335,000 claims for damage to their homes, businesses and vehicles, broken down as follows:
Motor insurance – 268,400 claims at a cost of £395 million – many claims were for accidental damage as motorists struggled on slippery roads.
Property damage (homeowners and business customers) – 66,600 claims costing £255 million – of these, 60,200 involved homes, at a cost of £194 million.
The volume of weather damage claims rose to double that normally seen during December and January, with a typical claim involving roof damage caused by snow.
The ABI’s director of general insurance and health, Nick Starling, says: “From dealing with snow damaged roofs, burst pipes, to repairing or replacing vehicles damaged by treacherous driving conditions, insurers helped their customers get through the snow and the freezing temperatures.”
He adds: “Insurers have paid out nearly £1 billion to customers following bad weather this winter, as the heavy snow came weeks after the flooding in Cumbria, which led to insurers paying out £200 million in flood claims.”
Category: ABI News, Car Insurance News, Home Insurance News
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