With thousands of properties suffering damage due to intense flooding and thousands more still at risk, many homeowners are questioning government efforts to stabilise the flood insurance market.

Whilst the government and the Association of British Insurers (ABI) are still negotiating the future of flood insurance, thousands of homes have been devastated by flooding. The ABI’s analysis of recent Environment Agency flood data shows that in 92 constituencies there are 1,000 or more homes at high flood risk. The risk is defined as a greater than 1 in 75 chance of flooding in any given year – large areas of England and Wales are currently at risk such as parts of Lincolnshire, the Vale of Clwdd, Folkestone and Hythe and Windsor.

ABI estimates that a huge number of properties may be uninsurable, stating that “with the insurance industry’s voluntary flood agreement with the Government ending in June 2013, a new sustainable long-term solution needs to be urgently agreed to avoid as many as 200,000 high-risk households facing problems in getting flood insurance after then.”

Amid attempts to draw a final conclusion to the agreement the government has pledged that it will step up efforts to provide suitable and sustainable flood defences for towns in areas of high flood risk. So far, it seems that little progress has been made as recent flooding has already caused hundreds of thousands of pounds of damage. It is little consolation to homeowners that they may be forced to provide their own flood defences to avoid high insurance premiums.

ABI states that it is frustrated with current progress with the government as it wants to see “a model that would allow flood cover to remain widely available and competitively priced.”

We are concerned that unless the government considers a safety net people could lose out and that is why we are dedicated to providing the best flood insurance policy to suit you.

Why not call to see what we can do?