The Association of British Insurers (ABI) has reported further progress with the clean-up in the wake of the winter storms.
Of the 15,000 property claims received after Storms Desmond, Eva and Frank, 90% are now either fully or partly settled.
For the first time the ABI has been able to break down the figure for different types of property, which show:
• 94% of domestic customers have had their claims fully or partly settled
• 83% of commercial customers have had their claims fully or partly settled
Commercial claims can take longer to settle because some of them are for very large values and because claims for business interruption cover can often only be finally settled once accounts have been provided so the impact on loss of profits can be accurately calculated.
The final bill for all repairs is expected to reach £1.3 billion.
With the unseasonal downpours we are currently seeing, make sure your home is correctly insured by contacting us for a home insurance quotation.