{"id":112552,"date":"2024-08-12T00:06:15","date_gmt":"2024-08-12T00:06:15","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/08\/12\/bad-weather-brings-rise-in-insurance-claims\/"},"modified":"2024-08-12T00:06:16","modified_gmt":"2024-08-12T00:06:16","slug":"bad-weather-brings-rise-in-insurance-claims","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/08\/12\/bad-weather-brings-rise-in-insurance-claims\/","title":{"rendered":"Bad weather brings rise in insurance claims"},"content":{"rendered":"
\"Bad<\/div>


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Storms and heavy rain all contributed to the highest property insurance payouts for at least seven years, insurers say.<\/p>\n

A total of \u00a31.4bn was paid out to homeowners and businesses between April and the end of June, the Association of British Insurers (ABI) said.<\/p>\n

This was up 5% on the previous three months, and the highest quarterly figure since comparable records began in 2017.<\/p>\n

But billpayers have faced sharp rises in premiums and a consumer group said some insurers were still stalling on payouts.<\/p>\n<\/div>\n

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Data shows that the late autumn, winter and early spring months brought a deluge of rain to the UK.<\/p>\n

Total rainfall between October 2023 and March 2024 was the UK’s second wettest period on record.<\/p>\n<\/div>\n

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The ABI said the continuing adverse weather meant April to June was the fifth consecutive quarter that weather-related claims had been above \u00a3100m.<\/p>\n

Claims for damage to homes from storms, heavy rain and frozen pipes reached \u00a3144m, with weather the leading factor for domestic payouts. Other issues including subsidence added to the insurers’ total payouts.<\/p>\n

Providers have faced their own rising costs, when the rate of inflation was high, but billpayers saw the average combined home and contents premium rise by 19% in the second quarter of the year compared with a year earlier.<\/p>\n

And Sam Richardson, from the consumer group Which?, said insurers still had criticisms to answer.<\/p>\n

“Good quality home insurance is increasingly important, yet customers with these products face some of the lowest claims acceptance rates,” he said. <\/p>\n

“While some home insurers’ prices are going up, research has found that some are prolonging customers’ ordeals by failing to deal with claims in an appropriate manner.<\/p>\n

\u201cSome home insurance customers who can’t afford to pay for cover in one annual lump sum, and instead pay monthly, are also being hit by huge rates of interest.”<\/p>\n

Louise Clark, policy adviser at the ABI, said providers were doing all they could to provide “competitively priced cover”.<\/p>\n

She also called on the government to take action on tackling the causes and impact of flooding.<\/p>\n

The average payout for a home insurance claim rose 16% on the first three months of the year to \u00a35,284 in the April to June period.<\/p>\n<\/div>\n


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Storms and heavy rain all contributed to the highest property insurance payouts for at least seven years, insurers say. A total of \u00a31.4bn was paid out to homeowners and businesses between April and the end of June, the Association of British Insurers (ABI) said. This was up 5% on the previous three months, and the […]<\/p>\n","protected":false},"author":2,"featured_media":112553,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/ichef.bbci.co.uk\/news\/1024\/branded_news\/69c5\/live\/f6cc58c0-5659-11ef-8177-3703f85c53e5.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[1559,11231,4811,11068,572,1282],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/112552"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=112552"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/112552\/revisions"}],"predecessor-version":[{"id":112554,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/112552\/revisions\/112554"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/112553"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=112552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=112552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=112552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}