Record payouts

Life sometimes has a way of throwing you a curveball at the worst possible time. Maybe it's a car crash that leaves you out of work for a week; maybe it's pipes bursting over the festive season that come with a list of bills; or maybe a natural disaster that leaves you homeless for a while. At these times, it's vital to know that you can rely on your insurance company. Here we look at some record insurance payouts.

Car insurance is a legal necessity because there are a lot of drivers out there that probably shouldn’t be on the roads! In Britain somebody crashed a Pagani Zonda S and the insurance company paid the bill, which ended up being the biggest insurance claim for a car in the UK at £300,000. To compensate for the car would have been £500,000, so they sent the car to Italy and had it repaired to save a bit of money.

2009 saw a story that makes you realise the lengths that some insurance companies will go to, to not pay a claim. Aviva insurance ordered a woman to pay back a £241,000 claim when her ex husband burned her house to the ground because they discovered that seven years prior to the incident she received over payments in benefits and got a small fine.

Sometimes natural disasters or technological problems can cause mayhem and this leads to record insurance payouts. The Icelandic ash cloud caused flights to be cancelled for weeks and cost companies millions. Insurance companies were hit when 10 million Canadians and around 45 million Americans were left without power in 2003. Internet went down, mobile phones wouldn’t work, businesses had to close and flights were cancelled.

This one isn’t a record payout but it is funny. A woman bought her daughter a mobile phone and thought it would be fun to bake it into a cake. When the phone inevitably broke she tried to claim it back on the insurance.

Insurance isnt all about record payouts - it's important to help you through difficult times, so it's vital to make sure that you are properly covered. Insurance comparison websites do a great job of considering your circumstances and finding the best insurance deals for these circumstances. Remember to shop around to find the best deals.

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