Insurers say floods and storms payouts to top £1 billion

Insurers say they expect to pay out more than £1 billion to people whose homes, businesses and vehicles were damaged in the recent floods and storms.

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Breakdown of flood payouts

The Association of British Insurers estimates it will be paying out £1.1 billion to customers affected by floods and storms in the wettest winter on record.

£446 million of that figure will be paid out for flood damage alone. Here is how it breaks down:

Homes:

  • £276 million in payouts
  • 9,000 flood-hit home owners

Businesses:

  • £149 million in payouts
  • 3,100 claims were received from this sector

Vehicles:

  • £22 million will be paid to flood-hit vehicle owners
  • 5,400 claims for flooded vehicles

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