Yorkshire and Midlands flood damage payouts set to top £100 million

Parts of South Yorkshire were seriously damaged by the floods, with homes, businesses, and roads being claimed by the rising water.

Insurers have already made £1.2 million worth of initial emergency payments to help those in the immediate aftermath of the floods.

In addition to this, at least £680,000 has been paid so far in re-housing the worst hit flood victims whose homes were deemed uninhabitable.

According to ABI, of the estimated £110 million payouts, £45 million covers damaged homes and possessions; £58 million for business property and stock, and £7.5 million relating to damaged vehicles.

Mark Shepherd, ABI’s Assistant Director, said: “Insurers’ first priority when the floods struck was to help flooded customers recover from the traumatic experience as quickly as possible.

“Now the flood waters have receded, the hard work begins. Insurers and loss adjusters are working around the clock to ensure homes and businesses are fully dried out, so that repairs can start as soon as possible, and people can get their lives back together.”