Widespread flooding in Southland properties last month is expected to be a drop in the bucket for insurers

The Insurance Council's ranked its Top Five storms of the century - in terms of claims.

Valentine's Day floods in 2004 took the number one spot, before 2017's Cyclone Debbie - and last year's freak hailstorm in Timaru.

Chief executive Tim Grafton says they're still gathering information on the damage in Southland.

But he says initial indications suggest although it'll be a big problem for farmers whose property was damaged - it shouldn't be a huge insured loss.