Will You Be Covered With Riot Insurance?

The UK was flooded with mass rioting and chaos last week as thousands took to the streets destroying homes, businesses and lives in the process.

Hundreds of people have been affected by the riots that gripped the nation as looters raided shops, burnt down cars and buses and even attacked the police.

Many have been left with no option but to turn to their insurers in the hope that they can claim something back.

Prime Minister David Cameron said that the government will do ìeverything necessaryî to restore Britain to normality after the riots. 

The British Bankers Association has announced a series of solutions that are being rolled out across many UK banks.

These include waiving overdraft fees where possible, extending overdrafts to help with emergencies, increasing credit limits and offering mortgage repayment holidays where there is a need.

If you are concerned about claiming on your insurance, you can be safe in the knowledge that banks are doing all they can to help out customers.

The Association of British Insurers (ABI) has agreed with the PMís scheme to extend the maximum amount of time that claims can be made under the scheme from 14 days to 42. Many insurers are now running 24-hour helplines.

Home insurance policies should cover fire, looting and damage caused by the riots.

Many policies will also cover the costs of temporary accommodation if people canít stay in their homes. Most commercial and business insurance policies should cover damage to property including the interruption of trade as a result.

Nick Starling, Director of General Insurance and Health at the ABI, believes that ìsome policies will also cover those businesses which are not caused damaged but whose trade is affected by the aftermath.î

Those who have had their car damaged or burnt out will only be covered if they have a fully comprehensive policy, not third party.

People are advised to contact their insurer for information and advice.

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