KPMG figures include insurance claims, the impact of ‘under insurance’, repairs to flood defences and local infrastructure
The cost of the winter floods across the UK will breach £5bn, with about a fifth of the bill falling on those with inadequate or non-existent insurance policies, a leading accountant has warned.
Many insurance policies will not cover the full losses in the hardest hit areas such as the north of England, according to KPMG, especially as a large number of homeowners will have increased the value of their properties’ contents over the festive period, with gifts and large quantities of food being kept in houses.
Related: Cameron defends flood defence spending amid calls for 'complete rethink' - live
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