Weather damage insurance claims hit record high

18th April 2024


Weather-related damage to homes and businesses saw insurance claims hit a record high in the UK last year following a succession of storms.

That is according to data from the Association of British Insurers (ABI), which shows that the value of home insurance claims for weather damage hit an unprecedented £573m in 2023, which was 36% greater than in the previous year.

Businesses incurred £443m in weather damage claims, with the average claim paid to both businesses and homeowners rising to £6,235 – an 11% increase compared to 2022.

The sharp increases were largely fuelled by storms, including Babet, Ciaran and Debi, which struck last autumn.

ABI policy adviser, Louise Clark, said: “Extreme weather events may not feel so rare as they used to as we grapple with a changing climate.

“Insurers continue to be there for affected homeowners, with payouts hitting record levels after a particularly difficult autumn and winter with seemingly countless storms, from Agnes onwards leading to significant flooding.”

Homeowner’s storm damage claims for high winds and debris totalled £133m last year, but subsequent flooding added £286m, and represented half of all weather-related claims.

A further £153m of weather claims came from burst pipes, most of which was incurred in the first three months of 2023 at the tail end of a cold winter.

The findings are another reminder of the need for the UK to adapt to the impacts of climate change, according to Clark.

“While insurance will continue to protect homeowners and businesses, we can’t afford to lose momentum on our flood defence programme,” she explained.

“We continue to press the government for further investment in flood defence and maintenance, as well as calling for changes to the planning system to discourage building where flooding might be more likely.”

Image credit: Shutterstock

Subscribe

Subscribe to IEMA's newsletters to receive timely articles, expert opinions, event announcements, and much more, directly in your inbox.


Transform articles

EU and UK citizens fear net-zero delivery deficit

Support for net zero remains high across the UK and the EU, but the majority of citizens don't believe that major emitters and governments will reach their climate targets in time.

16th May 2024

Read more

There is strong support for renewable energy as a source of economic growth among UK voters, particularly among those intending to switch their support for a political party.

16th May 2024

Read more

Despite cost-of-living concerns, four-fifths of shoppers are willing to pay more for sustainably produced or sourced goods, a global survey has found.

16th May 2024

Read more

One in five UK food businesses are not prepared for EU Deforestation Regulation (EUDR) coming into force in December, a new survey has uncovered.

16th May 2024

Read more

Each person in the UK throws a shocking 35 items of unwanted clothes and textiles into general waste every year on average, according to a new report from WRAP.

2nd May 2024

Read more

Taxing the extraction of fossil fuels in the world’s most advanced economies could raise $720bn (£575bn) by 2030 to support vulnerable countries facing climate damages, analysis has found.

2nd May 2024

Read more

The largest-ever research initiative of its kind has been launched this week to establish a benchmark for the private sector’s contribution to the UK’s 2050 net-zero target.

2nd May 2024

Read more

The Scottish government has today conceded that its goal to reduce carbon emissions by 75% by 2030 is now “out of reach” following analysis by the Climate Change Committee (CCC).

18th April 2024

Read more

Media enquires

Looking for an expert to speak at an event or comment on an item in the news?

Find an expert

IEMA Cookie Notice

Clicking the ‘Accept all’ button means you are accepting analytics and third-party cookies. Our website uses necessary cookies which are required in order to make our website work. In addition to these, we use analytics and third-party cookies to optimise site functionality and give you the best possible experience. To control which cookies are set, click ‘Settings’. To learn more about cookies, how we use them on our website and how to change your cookie settings please view our cookie policy.

Manage cookie settings

Our use of cookies

You can learn more detailed information in our cookie policy.

Some cookies are essential, but non-essential cookies help us to improve the experience on our site by providing insights into how the site is being used. To maintain privacy management, this relies on cookie identifiers. Resetting or deleting your browser cookies will reset these preferences.

Essential cookies

These are cookies that are required for the operation of our website. They include, for example, cookies that enable you to log into secure areas of our website.

Analytics cookies

These cookies allow us to recognise and count the number of visitors to our website and to see how visitors move around our website when they are using it. This helps us to improve the way our website works.

Advertising cookies

These cookies allow us to tailor advertising to you based on your interests. If you do not accept these cookies, you will still see adverts, but these will be more generic.

Save and close