Residents count cost of rioting

09/08/11

By Leo Stevens

Insurance policyholders have been told to get their claims in as quickly as possible after the Association of British Insurers (ABI) said it has yet to assess the full extent of the ongoing riots in major English cities.

The advice comes after the organisation estimated that tens of millions of pounds worth of damage had been caused.

Insurance experts warned that the damage and looting has struck a "hammer blow" to struggling small businesses but there was some better news with the British Insurance Brokers' Association (BIBA) saying most home and commercial insurance policies should cover people for fire, looting or damage.

BIBA also reassured motorists by saying that comprehensive motor insurance policies will typically cover policyholders for fire, theft and malicious damage.

However, BIBA spokesman Graeme Trudgill warned that people with third party damage would not be covered.

He said: "It's important to get your claim in straight away, don't delay."