Homeowners to get bumper £219million subsidence insurance payouts after hot summer of 2022
Homeowners will receive a bumper £219million payout from their insurers for subsidence claims made last year.
Insurers are expected to pay out the highest amount for these claims since 2006, after the hot 2022 summer meant thousands more homes were hit by problems caused by sinking ground.
Insurers received 18,000 new claims in the second half of 2022, figures show.
The searing temperatures, which peaked at 40.3c (104.5f) in July, led to a new subsidence claim being made roughly every 15 minutes between July and December, according to the Association of British Insurers (ABI) trade body.
Subsidence occurs when the ground beneath a building sinks and the property’s foundations are pulled down with it.
Baked in: Insurers are expected to pay out £219million in subsidence claims, the highest amount since 2006
Subsidence can knock as much as 20 per cent off a property’s value, while lenders often refuse to lend on affected homes until the issue is resolved.
Giveaways include large cracks in walls, and diagonal cracks around window and door frames.
The average subsidence claim incurred last year was £9,600, the ABI says.
l.purkess@dailymail.co.uk
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