Insurers have been footing large bills following the recent bad weather, it has been revealed.
According to the Association of British Insurers (ABI), firms have paid out as much as £650 million in December and January alone.
Around 335,000 claims had been received from customers who were struggling to cope with unprecedented damage to their homes, businesses and vehicles.
Nick Starling, the ABI's director of general insurance and health, commented: "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."
Figures from the body show that £395 million was paid out to those who made claims on their car insurance, the majority of which was spent rectifying damage caused by accidents on slippery roads.
Throughout these two months alone, 268,000 motor insurance claims were dealt with, the ABI found.
The problems did not stop there, as the group revealed that £255 million was paid out to 66,600 consumers looking to rectify property damage.
Most of these claims involved problems with residential property, with many concerning roof damage caused by the snow.
Mr Starling commented: "Insurers will always respond quickly to the large number of claims that often result from bad weather."
It was, of course, more than the snow which caused issues for the UK, as flooding created difficulties in Cumbria.
"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," Mr Starling added.
This follows recent findings from the Motor Insurers' Bureau which showed that a fifth of drivers have committed some form of insurance fraud.
It also found that 70 per cent of motorists do not understand the concept of fronting a car insurance policy. |
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