Insurance claims expected to flood due to flooding
July 10, 2007 by admin
Filed under News, News-Insurance
The recent wet weather in Britain has devastated many homeowners all around the country, causing millions of pounds worth of damage collectively and causing untold stress and inconvenience.
According to officials the level of insurance claims is set to soar as homeowners assess the level of damage that the flooding has caused. This June has been reported as the wettest on record, and many areas throughout the country have suffered huge levels of damage.
A spokesman from the Association of British Insurers: ‘These events highlight just how important insurance protection is. If you have been affected by flooding, contact your insurance company. Their priority is to deal with all claims as quickly as possible.’
The Association of British Insurers has called upon the government to increase the funding for its defenses against flooding.
In the meantime, many of those without insurance cover or with inadequate levels of cover will be suffering the financial costs of the flooding, as they will have to foot the bill for the damages caused by the weather themselves, which could costs thousands upon thousands of pounds.
Even those with insurance cover have to now go through the laborious task of assessing the damage and making a claim with their insurer, which could take time to sort out given the number of claims that are likely to be flooding in.
More unpredictable weather is expected over the next few weeks, and this means that the number of claims being made could rise, which could mean further costs to insurance companies and a higher level of claims from customers.
Tom Smith
10th July 2007
