23rd Nov 09
Scottish and Cumbrian floods could exceed £100 million
by Katie Naylor
Insurance claims resulting from the floods in Cumbria and southern Scotland could top £100 million, according to the Association of British Insurers (ABI).
The ABI claims that it is too early to value the cost of the damages, but early indications are that insurers have already received about 1,000 claims.
People living in the region now face a massive clean-up operation after floods swept across the area.
Over 1,300 homes were affected and many were left without mains water or power.
The ABI is recommending those who are affected by the floods to contact their insurance company as soon as possible.
Kelly Ostler-Coyle from the ABI said that if residents needed alternative accommodation, it’s usually covered in their policy, so their insurance company would ensure that any payments for accommodation were paid promptly.
Many insurers have implemented 24-hour contact numbers to assist those in the flooded areas to get in touch, as well as attempting to contact residents directly.
Ms Ostler-Coyle continued by saying that events like the flooding that took place do show the need for insurance and how much your life could be devastated if you don’t have it in place.
She didn’t expect that insurance premiums would rise as a result of the claims, saying that this type of damage was not unusual in any given year.
Currently there are 19 flood warnings in place across the south-western and northern parts of England, Scotland and Wales, and the Met Office has warned for localised flooding in western counties of Northern Ireland.
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