Insurers have faced a near-two-thirds increase in the average value of home insurance payouts over the past year, according to the industry.
Average payouts for households rose 64% to £4,096 in the year to September, the Association of British Insurers said on Tuesday.
Claims had averaged £2,491 last year, the group added, with extreme temperatures either way having triggered claims.
This includes during last winter’s cold snap, which led to pipes bursting, alongside high temperatures this summer.
Average costs of flood claims themselves climbed by 53% over the year, from £11,018 to £16,905, though the impact of Storms Babet, Ciaran and Debi have not been included, with the group anticipating these to have cost insurers £560 million collectively.
“As well as being the roof over our heads, the home is for most people their biggest asset, so it is vital that it is protected against unwanted, expensive and distressing events,” Association of British Insurers property insurance advisor Louise Clark said.
“From extreme weather, to fire to burglary, insurers continue to support their customers should the worst happen.”
Cost of living pressures are said to have been a key driver in the increase, including through higher raw materials, energy, fuel and labour prices, though shortages have also contributed.
Home insurers collectively paid out £832 million over the year meanwhile, up 17%.