Insurance Companies Flooded with Claims

Analysis of market data by Abbey shows that on June 25th - when there was extensive flooding in Yorkshire and severe weather across much of Britain - up to 8,600 insurance claims were submitted.

Claims were made up of flood (3,200), storm (5,100) and lightning (210) damage. Putting things in perspective, there are an estimated 13,700 insurance claims made each year on average as a result of flood damage.

Prasad Shastri, Head of Insurance Marketing at Abbey, said: "If you are expecting or currently experiencing flooding, protect as many of your belongings as possible by moving them upstairs. If you can, use sandbags to prevent water coming into the home."

Shastri adds that although warnings were issued that there could be potential flooding; the scale of the damage has come as quite a shock. Many people will be looking to make claims on their home insurance so it's advisable that everyone who would like to make a claim look into doing so as quickly as possible.

Further research from Abbey Insurance shows that each year, an average of 257,000 of all home insurance claims are declined as a result of the policyholder not having the appropriate home insurance cover. Time to review your policy arrangements perhaps?

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