Flood Damage Bill To Exceed €200 Million

While the worst of the flood conditions from a dreadful November have subsided it will be many weeks before the full cost is known. It is now estimated that the cost of the recent floods will significantly exceed €200 million according to AA Ireland.

"A great many people are still involved in clearing up damage and preparing for the further falls of rain that are forecast." Says Director of Policy Conor Faughnan. "But we already know that this is a more serious and widespread flood event than the floods of August 2008. That event resulted in insured losses of €100 million. This one will cost double that amount when the final bills are paid."

This follows on from estimated insurance losses of €56 million arising from flooding and freezing weather last January. The AA also notes that uninsured losses may be particularly high as many home owners and businesses may have reduced insurance cover in the context of the current economic downturn.

AA Ireland provides Home and Motor Insurance and has many customers in the affected areas. Claims are already being received in respect of people’s homes, cars and businesses and the scale of the damage caused by the event will become clear in the coming weeks.

Insurance companies collectively have activated emergency plans and have teams of people on the ground in Cork, Clare, Tipperary and Galway. While flooding has been concentrated in these counties there are localised flooding events in many other parts of the country.

The AA is advising people to inform their insurance company straight away even if they are not yet sure how bad the damage will be.

"Obviously it will take home owners some time to be able to assess the damage, and people will have more immediate priorities rather than their insurance company. But it will help the insurer to speed up the processing of your claim if you give them notice straight away."

In addition to damage to property a great many cars have been damaged by flood water. The AA is repeating its call to drivers not to take the risk of driving through a flood.

"The AA breakdown service has been inundated with calls from motorists who were sure they could make it through what looked like a deep puddle, only to find themselves stranded and their car badly damaged. Please don't risk it." Said Faughnan.

AA Tips if your home is in a flood risk area:

Listen to AA Roadwatch, Met Eireann and local information for flood warnings in your area.
If warned, be ready to turn off gas and electricity.
Do what you can where practical to protect your home. Ensure (if you can do so safely) that drains are clear.
Material possessions can be replaced – do not take any risks with your personal safety.
Have insurance documentation and helpline number on hand and stored dry and safe.
If you think you are in an at-risk area, consider having a 'flood pack' bag prepared with a torch, clothes, blankets food and water.
Where practical and if there is time, consider moving high value items upstairs. Include items of sentimental value. These can never be 'priced' properly and can never be adequately replaced.
Think about where you park your car - can you move it to higher ground?