Facebook
Britain's News Portal
Around The Clock
BREAKING
Loading latest headlines…

UK Insurers See Surge in Subsidence Claims After Hottest Summer on Record

UK insurers are experiencing a surge in subsidence claims from homeowners following the hottest summer on record, with one insurer reporting a near 140% jump in August.

  • Hastings Direct reported a near 140% jump in subsidence claims in August, reaching an all-time high for the month.
  • The average subsidence claim in the UK was a record £20,000 between April and June, an increase of over £2,000 from the previous year.
  • Insurers paid out £72 million for domestic subsidence claims between April and June, up from £60 million in the same period last year.

Homeowners across England and Wales are making a significantly higher number of subsidence claims after the UK experienced its hottest summer on record. Hastings Direct reported a near 140% increase in claims for August, reaching an all-time high for the month.

Insurance firms have seen a rise in calls, online queries, and claims during the five heatwaves that followed the warmest spring ever recorded in England and Wales. While subsidence claims typically peak in late summer and autumn, this year saw a jump in numbers during the summer months.

The average subsidence claim in the UK reached a record £20,000 between April and June, which is more than £2,000 higher than a year earlier. The Association of British Insurers (ABI) stated that insurers paid out £72 million for domestic subsidence claims in this period, an increase from £60 million in the same period last year.

Hastings Direct anticipates that the high volume of claims will continue into the autumn, even with recent rainfall and a return to more normal temperatures. Aviva also reported an increase in subsidence claims and expects this trend to persist without significant rainfall.

Signs of subsidence can include diagonal cracks around doors and windows that widen over time, windows or doors that stick, uneven floors, and wallpaper creasing or rippling. Scientists indicate that millions of homes are at risk, with older properties being more vulnerable, particularly in areas like London, Essex, Kent, and a stretch of land from Oxford to the Wash.

Why this matters: The increase in subsidence claims and their rising cost could impact homeowners' insurance premiums and the financial reserves of insurance companies.

What this means for you: If you are a homeowner, you may experience an increase in your home insurance premiums due to the rising number and cost of subsidence claims. You should be aware of the signs of subsidence, such as diagonal cracks around doors and windows, sticking doors, or uneven floors.

Related Articles

Get the news that matters.

Join thousands of readers getting the best of British news straight to their inbox.