Between £50-100 million of insurance claims are expected from residents of Cumbria and south Scotland to pay for flooding damage, according to a trade association.
Insurers have already received in the region of 500-1,000 claims, with more to come, and typical payouts expected to cost about £20,000 to £40,000 depending on how badly different buildings and contents were damaged, said the Association of British Insurers (ABI).
Residents sheltering in alternative accommodation while their homes are flooded can also claim these costs on their insurance.
ABI spokeswoman Kelly Ostler-Coyle said: "There are still people who haven't called their insurance companies. And if there is more bad weather there could be more claims.
"Our advice to people is call your insurance company as soon as possible. They quicker you call the quicker the claim can be dealt with. As soon as the floods subside and it is safe to go in, a loss adjuster can go in to assess the damage."
Severe flooding in the summer of 2007, which hit Yorkshire and the South East, resulted in 100,000 claims for £3 billion worth of damage, while 2005's floods in Carlisle caused £250 million worth of damage.
© Press Association 2009