Furthermore, due to global instability, materials are taking longer to reach the UK – increasing the amount of time to sort a claim adding more cost.
For example, if you are waiting for your home to be repaired from flooding, an extra week means your insurer will need to pay out more for temporary accommodation.
The average price paid by customers for a combined home insurance policy in August 2023 was £197 a year, according to GoCompare. A 20pc rise would see the yearly cost increase to £236.
There have been ten storms over the United Kingdom since September – the start of the storm season, according to the Met Office.
A typical storm season brings six or seven named storms. The 2023-24 storm naming season is now just one name away from equalling the 11 storms recorded in 2015-16, with over seven months to go.
In the UK a storm will be named when it has the potential to cause disruption or damage which could result in an amber or red weather warning.
