Household winter claims could top £3bn as extreme weather events rise – Policy Expert

The cost for UK household winter claims could be more than £3.8bn in repairs as extreme weather events continue to increase.

This is according to insurtech Policy Expert’s latest research which found that the number of UK weather events over the last three years is higher than the total in previous decades.

It found that 31 extreme weather events hit the UK between 2018 and 2020, which was higher than the 29 recorded between 2008 and 2017.

Policy Expert warns that the sharp rise in extreme weather is further confirmation that homeowners must make sure they are adequately insured as a precaution.

Andrew Elder at Policy Expert, said: “As we’re all continuing to spend more time at home during the pandemic, there are straightforward precautions homeowners can take to safeguard their homes against the risks of adverse weather – alongside securing comprehensive home insurance.”

It follows Storm Christoph sweeping through England and Wales this month as the Covid-19 pandemic continues.

Breakdown

Policy Expert’s research suggested that severe damage caused by extreme weather events has driven an influx in claims on home insurance policies from Brits over the last year.

It found that the number of claims during last year’s February 2020 storms were 54% higher than the same period the previous year.

Elder continued: “The UK’s intensifying climate highlights the pressing need for homeowners to shore up their properties now to mitigate the possibility of home damage from increasingly common extreme weather events.”

These findings come as Policy Expert launches it Winter Home Watch Guide 2021  which is intended to provide advice for homeowners to reduce or avoid potential damage to their property.