Storms boost insurance claims
January 19, 2007 by admin
Filed under News, News-Insurance
Britain is currently being ravaged by severe storms and thousands of people have woken up to find damage to their homes and property.
Weather experts are already predicting that there is worse to come in 2007 and hundreds of millions of pounds will be spent on insurance claims.
However, Abbey is warning that 36 per cent of all homes in the country are not insured at all, meaning the owners will be forced to foot the bill should the worst happen.
Speaking in December, Prasad Shastri from Abbey gave homeowners a warning that has been vindicated in the early part of 2007.
“Already we have seen a significant increase in storm related claims within the last month and this is expected to continue into 2007,” he said.
“Worryingly many people do not protect their homes properly despite the severe costs that storm damage can cause.”
Research from Abbey shows that 620,000 insurance claims are made every year as a result of storm damage, with estimates that each individual claim is worth £522.
Weather experts have hinted that another round of storms may hit the UK as early as next week and homeowners are advised to check their insurance policies and ensure that they provide adequate cover.
