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Storms and heavy rain all contributed to the best property insurance coverage payouts for at the least seven years, insurers say.
A complete of £1.4bn was paid out to householders and companies between April and the tip of June, the Association of British Insurers (ABI) mentioned.
This was up 5% on the earlier three months, and the best quarterly determine since comparable data started in 2017.
But billpayers have confronted sharp rises in premiums and a shopper group mentioned some insurers have been nonetheless stalling on payouts.
Data reveals that the late autumn, winter and early spring months introduced a deluge of rain to the UK.
Total rainfall between October 2023 and March 2024 was the UK’s second wettest interval on document.
The ABI mentioned the persevering with antagonistic climate meant April to June was the fifth consecutive quarter that weather-related claims had been above £100m.
Claims for injury to houses from storms, heavy rain and frozen pipes reached £144m, with climate the main issue for home payouts. Other points together with subsidence added to the insurers’ complete payouts.
Providers have confronted their very own rising prices, when the speed of inflation was excessive, however billpayers noticed the typical mixed dwelling and contents premium rise by 19% within the second quarter of the 12 months in contrast with a 12 months earlier.
And Sam Richardson, from the buyer group Which?, mentioned insurers nonetheless had criticisms to reply.
“Good quality home insurance is increasingly important, yet customers with these products face some of the lowest claims acceptance rates,” he mentioned.
“While some home insurers’ prices are going up, research has found that some are prolonging customers’ ordeals by failing to deal with claims in an appropriate manner.
“Some home insurance customers who can’t afford to pay for cover in one annual lump sum, and instead pay monthly, are also being hit by huge rates of interest.”
Louise Clark, coverage adviser on the ABI, mentioned suppliers have been doing all they might to offer “competitively priced cover”.
She additionally referred to as on the federal government to take motion on tackling the causes and impression of flooding.
The common payout for a house insurance coverage declare rose 16% on the primary three months of the 12 months to £5,284 within the April to June interval.
