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 around 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 the timing of the problems means that many homeowners will have increased the value of their home’s contents, with gifts and large quantities of food being kept in the house.
Related: Cameron defends flood defence spending amid calls for 'complete rethink' - live
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