Latest research from AA Insurance shows that we are, or will be, paying 10% more for buildings insurance than we were a year ago. The AA findings suggest that the average premium for buildings insurance in the UK has risen to £223.92 a year.
The premium increase has been put down to rising claims for damage resulting from freak weather experiences that are being linked to climate change, such as flash floods.
Insurer’s have seen claims rise by 15% in both value and number in areas where severe weather events were previously unheard of. The AA Insurance director, Simon Douglas, said:
“Insurers are beginning to reflect concerns about climate change … the industry is expecting rising cost and frequency of claims for flooding, subsidence and storm damage.”
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1 UK Insurance:Insurers increase excess on Buildings Insurance | UK Insurance News // Aug 14, 2009 at 12:45 pm
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