Overall this represents £146.8 million in home insurance claims, £3.8 million in landlords’ insurance claims and £9.8 million in lifestyle cover insurance claims.
Karan Martin, customer service director at Legal & General, said: “Adverse weather conditions caused chaos for many people last year, where over 5,000 homes and businesses were flooded after the stormy start. Circumstances such as these really highlight the importance of having protection in place should the worst happen.
“It’s at the point of making a claim that insurance policies really prove their worth. Up until this point, insurance policies may seem like a promise written on paper; however, the peace of mind that they provide in knowing that you’re protected from unforeseen crises is invaluable. At a hugely stressful and worrying time, they can also provide homes and business with the means they need to get back on their feet.”
Legal & General’s figures also highlight that the UK was hit particularly hard by flooding in 2014, with the insurer receiving six times the number of storm claims and triple the number of flood claims compared to the previous year. The highest concentration of home insurance claims payments was across the South and South East of England (see fig.1), with the top reason for claims being storm damage. This is reflective of the record-breaking levels of rainfall seen in these areas in January 2014.
