Counting cost of London rioting
9th August 2011
Tens of millions of pounds of damage has been caused by those taking part in the London riots, it has been claimed.
The three nights of chaos have seen businesses gutted by fire and widespread looting carried out in what has been called a "hammer blow" for struggling small businesses in the area.
Richard Dodd, spokesman for the British Retail Consortium, suggested that stolen goods, lost business and damage to properties will account for the multi-million figure.
However, affected homeowners who have home insurance cover may have their worries eased by a recent statement from the British Insurance Brokers' Association (Biba).
Biba said that the majority of people with home or business insurance should be covered for looting, fire or damage.
It added that holders of comprehensive car insurance policies should be covered for fire, theft and malicious damage carried out on their vehicles.
But Graeme Trudgill of British Insurance Brokers' Association said that people who only had third party cover would lose out.
"It's important to get your claim in straight away, don't delay," said Mr Trudgill.
Copyright © Press Association 2011
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