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Flood pay outs estimated at 1.3 billion

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Insurance pay outs for family homes and businesses affected by the December 2015 floods are estimated to reach £1.3 billion.

Figures by the Association of British Insurers (ABI) show that the average pay out for domestic flood claims was £50,000 – compared with the £31,000 average from the 2013/14 winter storms.

£24 million of emergency payments have been made to both families and businesses to cover immediate needs such as food, clothing and staff salaries.

ABI also found:

  • £9 million of emergency payments has been to customers, and £15 million to businesses
  • customers have made nearly 15,000 claims for property damaged by the floods
  • 5,600 motor claims have been filed
  • more than 8,300 initial visits have been made by loss adjusters.

James Dalton, director of general insurance policy at ABI, said:

“In the immediate aftermath insurers have focused on urgent needs, providing families with somewhere to live and helping businesses into alternative trading premises.

“The impact of flooding will be felt for many months to come in affected areas. Cleaning, drying out and repairing flood damaged properties is a major undertaking. Insurers and their expert teams will be there for the long haul to help communities rebuild and repair.”

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