The insurance bill for the damage caused by the winter weather looks set to cost £426 million.
According to the Association of British Insurers (ABI), havoc wreaked by the storms and flooding over the Christmas and New Year period resulted in 174,000 claims.
Between December 23rd and January 8th, insurers dealt with claims for damage to homes, cars and businesses.
The ABI’s assistant director and head of property Aidan Kerr said insurers were playing a crucial role in helping customers affected by the storm and floods to recover and praised them for their quick reactions to help flood victims get through the festive period.
“This was a traumatic event for those affected and shows the importance of having adequate property insurance. The insurance industry is fully prepared to deal with the damage caused by bad weather like this”.
Moneysupermarket.com recently issued advice to those who had been affected by the winter weather and gave tips on how to protect their home from future bad weather. Such suggestions included fitting water-resistant doors and window frames or replacing downstairs carpets with solid wood or tiled flooring to prevent damage.