Insurance costs to rise after €220m cold snap claims

HIKES in household premiums are on the cards after insurance companies paid out more than €220 million in claims related to last December’s cold snap.

Insurers dealt with almost 30,000 compensation claims for damages to homes and businesses caused by burst pipes during the freezing weather.

Household claims cost €173m, while commercial claims amounted to €50.6m, with Cork at €32.4m, the worst affected.