More than 15,000 insurance claims for flooded homes and businesses have been made in the aftermath of Britain’s December storms.

The Association of British Insurers (ABI) reports that 85% of claims have been either fully or partly paid for an average cost of £50,000 ($101,808) per claim.

Despite the unprepossessing names of Storms Desmond, Eva and Frank, the average cost of the claims is unusually high because of the extensive damage caused by the torrential floodwaters.

Insurers are spending £27.5 million ($56 million) on alternative accommodation for affected families while their properties are repaired, the ABI says. The final bill for all repairs is expected to reach £1.3 billion ($2.7 billion).

ABI Manager of General Insurance Policy Mark Shepherd says insurers “are committed to getting all customers back in their properties as safely and as quickly as possible”.

“Small businesses are the lifeblood of many local economies, and insurers have been working flat out to get many open and trading again.”

However, the ABI admits that after claims have been settled and repairs concluded some bad news awaits claimants – like the December floodwaters, premiums will rise.

“Properties which have flooded or are in high-risk flood areas can face higher insurance bills because it is much more likely the insurer will need to pay out to deal with a flood, which can cost tens of thousands of pounds,” Mr Shepherd said.

The ABI has also called on the Government to invest in the long-term flood risk management of affected areas “to better protect them from the chances of future flooding”.

“The ABI will continue to lobby for greater investment from core Government expenditure for the effective management of flood risk throughout the UK,” Mr Shepherd said.