Friday 17th January 2020
Payouts from the Yorkshire and Midlands floods to hit £110m

The floods in Yorkshire and the Midlands affected so many people’s homes, businesses and vehicles.

BBC reports:

Insurance payouts to people hit by the recent floods in Yorkshire and the Midlands are expected to reach £110m, according to initial estimates from the Association of British Insurers.

So far 4,039 flood claims have been received: with 2,250 related to flooded homes and businesses; 1,788 to damaged vehicles.

Of the estimated £110m payouts, £45m covers damaged homes and possessions; £58m for business property and stock, with £7.5m relating to damaged vehicles.

The ABI reckons the average household flood claim is likely to be around £31,000, and £70,000 for a flooded business.

“Now the flood waters have receded, the hard work begins. Insurers and loss adjusters are working around the clock to ensure homes and businesses are fully dried out, so that repairs can start as soon as possible, and people can get their lives back together,” said Mark Shepherd of the ABI.

We are hopeful that anyone affected had good insurance in place to support them.

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