Snow to get insurance premiums
AXA Insurance said that receiving "doubling" normal claims last week, with associated with snow damage 50pc. The insurer has reported an increase in 23pc of motor insurance claims on the previous week, with the number increasing 85pc vehicle accidents.
Last year, the industry insurance paid to 644 million from £ owners and businesses to cover the damage caused by water that had escaped burst pipes and leaking faucets and washing machines, and the Association of the British Columbia Colombia-insurers said provides this winter to be even worse.
Said AA car insurance claims increased by 23pc last week. Ian Crowder, a spokesman for the insurance-AA said: "the harsh winter of the last year has resulted in the insurance industry spinning more claims, particularly on Insurance House, where costs were higher than the prior winter 30pc.".
"If we have another long, hard winter and then the insurance companies soon begin to increase premiums." He said in the worst case scenario insurers could be growing premiums by 10pc.
Clare Francis of moneysupermarket.com has added: "we already see the cost of auto insurance and home insurance increased."
"Current weather will affect the price of insurance, because it means insurers will have to pay more requests." This is just one of a number of factors that determine prices next year. but currently, all of these factors conspire to push prices upwards. And this time continues, the greatest impact on premiums.
Barrie horns, a securities broker Panmure Gordon, Director noted that the cost of automobile insurance has already increased thanks to the increase in the frequency and size of bodily injury claims. He added that skyrocketing home insurance claims may worsen.
He said: "claims tend to come in just so people can effectively evaluate their loss." Burst pipe claims tend to occur when weather is warming and liberate the pipes leading to the damage. ?
Kevin Ryan, said analyst Investec Securities, insurance was not clear yet if winter weather this year produce claims more than last year, but he added: "the cost of insurance according to RSA and Aviva increases in automotive and home."
The big freeze triggered records calls from British Gas as Arctic temperatures is pressure on heating systems throughout the country.
Robin Bray, winter expert houses of British Gas, said: "looking half houses in the country, and we know from recent research that despite a quarter Britons have suffered before boiler failure almost 70pc fail us prepare our houses winter before a problem arises."
"Every year in October, we encourage people to check their boiler before cold weather starts really and ensure that they are taken."
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