Subsidence claims set to top £219m
21st March 2023Tweet
The Association of British Insurers has revealed that the industry can expect to pay £219m in subsidence claims made last year.
Last summer’s heatwave led to 18,000 separate claims, which equates to one every 15 minutes in the second half of the year.
In total there were 23,000 subsidence claims made in 2022 at an average of £9,600.
Laura Hughes, ABI’s Manager, General Insurance, said, “Thousands of homeowners felt the impact of last summer’s record-breaking heatwave long after temperatures returned to normal. Insurers understand that suffering subsidence is worrying and stressful. They have, and will continue to, support their customers during any monitoring period to ascertain the extent of the damage, and what repairs or work will be needed for a long-term solution.”Tweet