The Association of British Insurers have issued figures revealing that the British insurance industry was hit with a £644 million bill last year as a result of Arctic temperatures hitting the UK. With a second freezing winter currently taking hold of Britain the ABI warns that payouts this year could exceed £650 million.
British insurer Direct Line revealed that as many as 1 in 20 households made winter-related home insurance claims last year, while Lloyds TSB Insurance reported a dramatic seven-fold increase in claims for damage caused by burst water pipes alone.
Freezing temperatures are putting the nation’s central heating systems to the test, with many claims arising as a result of broken boilers and burst pipes. Central heating provider British Gas urged householders to have their boilers serviced in October before the real freeze sets in, but it remains to be seen just how many British households will suffer damage as a result of the dramatic drop in temperatures.
The majority of household claims so far have related to burst water pipes, but other claims have related to damage to roofs and outbuildings, including sheds and greenhouses, while some households have suffered facia board and guttering damage due to the weight of the snow.
Insurers were aware that this winter was set to be worse than last year, and issued advice to customers to help protect their homes and prevent damages. Homeowners are advised to check that all of their water tanks and pipes are fully lagged, leave their central heating on low to maintain constant warm temperatures to ensure pipes do not freeze, and when leaving their properties vacant for an extended period, to drain all water from their central heating systems and shut off their water supply at the mains.
In response to the freezing weather, many insurers now include more extensive home insurance policies alongside their standard home insurance packages. Policies such as Home Insurance Extra from Legal & General are home insurance packages that includes extra cover for emergencies, often offering customers discounts on the cost of emergency repairs.
