Counting the cost - GBP300 million for the winter of extreme weather

A Barclays Group product story
Edited by the Insidemoneytalk editorial team Feb 22, 2007

Britain has been in the grip of the most damaging winter for years according to Barclays Home Insurance.

It is estimated that over GBP300 million worth of damage may have been caused by the extremes of weather that have battered the UK in the last two months including flooding, tornados and snow.

Figures from Barclays Insurance reveal that the number of households suffering from storm damage was up by 158% in January 2007 from the same time last year and it is expected that many more could be facing the bills for minor damage themselves because they are not adequately covered.

Following the weeks of heavy rainfall, gale force winds and snow, 60 per cent of all home insurance claims are currently weather-related with the average cost of these claims over GBP500 each.

Mark Till, Marketing Director for Barclays Insurance, said: "The weather is always a favourite topic of conversation for us Brits but the extremes we have experienced in the last two months have kept everyone on their toes.

From an unseasonally mild Christmas to snow across the country in the last few weeks and everything in between, including isolated tornados it's no surprise that we have seen a huge increase in the number of claims being made for weather-related damage.

"This can range from something as simple as a damaged fence to severe structural damage such as roof being blown off or walls collapsing.

This is devastating enough for a family so it is some comfort to know that they have adequate insurance and will get the assistance they need to get things repaired and back to normal as quickly as possible." With the threat of severe weather seeming to increase over the years, Barclays recommends that all homeowners ensure they have insurance to cover potential damage to their property.

For more information on Barclays Home Insurance and a quote visit www.barclays.co.uk/insurance.

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