Flooding and Your Home Insurance

It cannot have escaped anyone's attention that parts of the UK have been devasted by severe floods. Badly hit regions have barely recovered from flood damage caused in 2006 and have now had to endure repeated attacks in recent weeks.

23/07/2007 16:39:44

The home insurance industry is crying out for the government to increase flood defence spending in the worst hit areas whilst it faces millions of pounds worth of new flooding and home insurance claims. If you currently have a home insurance policy and have been affected by flooding, you should be lucky enough to have flood damage included as part of your standard cover (rare amongst the rest of the EU). Most UK home insurance policies include this cover but check the small print of your policy to be certain.

If your property has been hit by the floods, there's very little point in getting on the phone to arrange your home insurance cover now! Unfortunately, you won't stand a chance. In fact, many of the leading home insurance providers are thinking about removing the flooding cover from their standard policies unless the government increases its flood defence budget further.

If you've been affected or could be considered as living in a region which is liable to flooding, don't be surprised if your current home insurance provider declines the chance to renew when your current policy expires. They're under no obligation to renew your home insurance simply because you're an existing customer.

Even if you find that your home insurer is willing to renew your policy, you can expect to pay a 20-30% higher premium if you live in an area affected by the recent floods. This is simply a reaction to the obvious risk and likelihood of a claim which your property now faces.

What many homeowners don't realise is that 90% of the damage associated with flooding is actually caused by the first inch of water to enter the property. Therefore, it is highly recommended that you investment a few hundred pounds in the necessary protection. One piece of kit which will help you achieve a good level of protection is offered by Flood Guards (www.floodguards.com). Their equipment reduces the prospect of water getting through your door and window sills and improves you as an insurable prospect in the eyes of the insurance industry.

Once you have taken such measures to reduce the risk, you will have put yourself in a better position to approach a flood insurance specialist. Bureau Insurance Services provide flood insurance protection and they can be contacted on 0870 112 8740.