Damage from Storms Dudley, Eunice and Franklin totals almost £500 million
Over 177,000 claims were made to insurers for damage to property
Insurers have estimated the damage caused by a number of storms in February could total just under £500 million.
Around 177,000 individual claims were made for damages to property including homes, cars and businesses as the UK felt the force from Storms Dudley, Eunice and Franklin.
The Association of British Insurers (ABI) has since estimated that the long stretch of poor weather has cost insurance companies around £497 million in payouts.
When broken down, property damage to homes and businesses made up the majority of claims, with the total amount nearing £473 million.
Car damage also cost insurance companies around £23 million, whilst emergency payments to relieve the immediate hardship of the storms reached £13 million.
In addition to this, an extra £2.2 million was expected to have been given out to put those whose homes were destroyed by the storms in temporary accommodation, whilst repairs to their homes were made.
The total bill for insurance companies is not unfamiliar, however. In February 2020, a series of storms - Ciara, Dennis and Jorge - swept across the UK, causing £543 million worth of damage.
Speaking about the calculations, the ABI's senior policy adviser for general insurance, Sarah Brodie said that despite the large payouts, this is what insurance is meant for.
"Storms and floods are exactly the type of unwelcome event that insurance protects against," she said.
"When bad weather strikes, the priority for insurers is always to do all they can to help their customers recover from what can be a traumatic and costly experience as quickly as possible."
She added: "From making immediate emergency payments where needed, arranging temporary alternative accommodation while badly damaged properties are being repaired, to organising repairs, insurers continue to support their customers whenever storms strike."
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