July Weather Costs Insurers $31m

July weather costs insurers $31m

Ten days of snow, rain wind and flooding in July has caused $31 million damage to people’s homes, contents, businesses, boats and motor vehicles the Insurance Council of New Zealand reported today.

The 12-14 July nationwide snow, rain and wind cost insurers $10.3 million followed closely by nationwide flooding between 20 and 22 July costing $20.9 million.

“With three months left in play, 2017 is already the most expensive year for weather events since our records began. The two July weather events bring the total for significant weather events for 2017 to $230.2 million which now surpasses the year of the Wahine storm in 1968” said Insurance Council Chief Executive Tim Grafton.

Provisional data released today has nearly 3,600 house and contents claims costing over $16 million, 843 commercial claims at nearly $11 million and 426 motor vehicle claims costing $2.7 million.

ENDS

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