Flood insurance

#floodwarnings across UK, many homeowners may lose cover next year

After 10 days of torrential rain, many parts of the UK are currently braced for rising water levels and the possibility of flooding. It’s a nasty reminder that, for many of the UK’s most vulnerable households, time is running out on their home insurance. The voluntary agreement between the government and the insurance industry to guarantee flood cover for all of the UK’s homes expires in June 2013 and there is no clear indication what will replace it.

The increased chance of flash floods in the last few years has left hundreds of thousands of homes across the UK at risk of flooding. With the expectation being that extreme weather will become more common over the coming years, the government and the insurance industry came up with a ‘Statement of Principles’ that obliged insurers to continue to provide cover and obliged the government to invest in flood defences. The agreement is far from perfect and is coming to an end next year, meaning that hundreds of thousands of homeowners many not be able to get insurance for their homes.

With discussions between the government and the insurance industry currently going nowhere, 2013 is set to be a challenging year for those at risk of flooding. We’re making every effort to offer our customers the most cost effective flood insurance on the market so why not call us today to see how we can help?