UK cold snap leads to highest freeze payout
New figures released by the UK’s Association of British Insurers (ABI) show December’s freezing conditions cost insurers more than £1.4 billion ($2.24 billion).
The coldest December in the UK since records began in 1910 was also the most costly for UK insurers. It came on the back of almost £700 million ($1.12 billion) in weather-related claims being paid in the 2009/10 winter.
The ABI says 467,000 claims were received for damage to homes, businesses and vehicles over the month.
Property damage claims amounted to around £900 million ($1.44 billion), with 190,000 claims filed. Three-quarters of these were domestic. Of the property claims, 103,000 – at a cost of £680 million ($1.09 billion) – were for damage caused by burst pipes.
Motorists accounted for 278,000 claims, representing vehicle damage of £530 million ($847 million), which mainly came from low-speed collisions as many struggled to stay in control on icy roads.