Weather-related domestic damage cost insurers £585m in 2024, says ABI
The Association of British Insurers has calculated insurers paid out a record £585m for weather related damage to people’s home and possessions in 2024.
The claims followed significant and consistent bad weather including 12 named storms in the 2023/2024 storm season, the most named storms since 2015/2016, the ABI noted.
It detailed that claims for damage to homes from windstorms, flooding and frozen pipes in 2024 topped the previous 2022 record for the same claim types by £77m. The 2024 figure was also £127m (28%) higher than the weather-related claims payouts for 2023.
Total property claims in the fourth quarter of 2024 were £1.6bn, and took
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