Last summer’s record-breaking heatwave, when temperatures peaked at 40.3 degrees on 19 July, has led to a surge in subsidence claim payouts, according to the latest from the Association of British Insurers (ABI).
Insurers expect to pay £219m in subsidence claims made in 2022, many of which were caused by last summer’s record-breaking high temperatures. This is the highest expected insurance subsidence bill since 2006.
Of the 23,000 subsidence claims made during the year, the majority (18,000) were in the second half of the year following the heatwave. This equates to one new claim every 15 minutes during the last six months of 2022. The average subsidence claim incurred was £9,600.
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