Insurers Set For Storm Payouts
Landlords should protect their property with the right insurance
The wild winter storm that rocked most of the UK last week caused widespread damage but the Association of British Insurers (ABI), reassured all policyholders, including those with landlord insurance policies, that claims would be dealt with swiftly.
The torrential rain and gale force winds caused extensive disruption across the UK’s transport network, damaged properties and vehicles and toppled trees.
Now insurers are preparing themselves for the claims to come flooding in and could be left with a hefty bill to pay.
However, the association confirmed that any storm damage would most likely be covered by home, business and buy-to-let property insurance and that damaged vehicles would be covered by comprehensive motor insurance.
The ABI advised those making a claim, including landlords with buy-to-let insurance policies, to do so as soon as possible, indicating that insurance firms would react quickly to help policymakers affected by the storm.
Nick Starling, ABI’s director of general insurance said: “Insurers number-one priority is to ensure that anyone who suffers damage get their claim dealt with as quickly as possible.”
Landlords and property owners without adequate insurance in place face rising costs and a race against the elements, to repair the damage caused by the storm before the weather deteriorates further and the UK experiences the sub-zero temperatures, freezing conditions and associated chaos that a typical British Winter brings.