NFU counts the cost of storm damage
Insurance firm NFU Mutual has begun counting the cost of claims following storms Ciara and Dennis.
The firm, which has offices in Blackburn, Chorley, Clitheroe, Lancaster, Preston and Southport, has estimated that total pay-outs to customers will be in the region of £20m. Claims are still being received but there has already been 288 claims so far across the North West region for Storm Ciara, and 50 for Storm Dennis.
Approximately 90 per cent are personal home insurance claims for significant storm damage including fallen trees damaging property, damage to roofs and tiles, water ingress and chimneys being blown over.
The estimated costs are almost double that of 2017's Storm Doris, which resulted in over £11.5m worth of pay-outs to NFU Mutual’s customers. The November 2019 flooding cost the insurer £3m.
Paul Branch, head of claims at NFU Mutual, said: “Storm Ciara is one of the worst storms to hit the UK for several years and we’ll be paying out in the region of £20m to help our customers get back into their homes and businesses as quickly as possible. Suffering damage or being displaced from your home can be an extremely distressing time, so we move rapidly to help our communities, arranging alternative accommodation and making emergency payments.
“The number of severe flood warnings is decreasing with water starting to make its way to rivers, so thankfully we’re expecting the situation on the ground to start getting better for most regions."
- For further Lancashire business news, advice and analysis subscribe to Lancashire Business View or join the LBV Hub from just £2.50 per month. Click here to subscribe now.