UK Home Insurance Articles Gocompare.com Home
search advanced search

Home >> Home Insurance Articles


Will a flood leave your home insurance high and dry?

Article by Simon Christopher
Article added: 5/2/2010 - Last updated: -
Rating: 0.00 (0 votes)


How do I know if my property is at risk from flooding?

The Environment Agency provides a flood map on its website for both the public and the Association of British Insurers. This works in two ways: the map itself shows both the areas which are at high risk from floods and those which could be affected by an extreme flood, while an accompanying guide lists current flood warnings.

Flood risk areas are classified in three categories: low risk (less than a 1 in 200 chance of a flood each year), moderate risk (between 1 in 75 and 1 in 200) and high risk (more than 1 in 75). The moderate and high risk categories are the two which are shown on the flood map.

Will insurers cover me if I am at risk?

The ABI agreed a statement of principles with the Government, last updated in 2008. Under this agreement, ABI members will not normally refuse to cover a property in a moderate risk area. They also agree to cover properties in high risk areas if the Environment Agency has already announce flood defence plans which are expected to reduce the risk to moderate levels within five years.

It's very important to note that although insurers are usually bound to cover such properties, they are perfectly at liberty to charge higher premiums or impose a higher excess. There is also an exception which means insurers can refuse to cover any property built after 1 January 2009 as it's assumed builders and buyers will have taken into account the flood risks before going ahead with construction and purchase on a particular site.

Will suffering a flood affect my future premiums or leave me without cover?

This is largely at the discretion of insurers, beyond their commitment to cover properties as detailed above. In theory you might expect an insurer to heavily raise premiums on a property after it has suffered a flood. In practice, the flood may prompt a homeowner to take better precautions to minimise the damage if a flood takes place again. The flood may also put more pressure on local authorities and government agencies to take steps to make sure flooding is less likely to happen again.

When assessing the impact of a flood on future cover, insurers may also distinguish between a flood which appears to be a genuine freak occurrence and once where the risk was more predictable.

With homes where insurers have discretion over cover (those in high risk areas with no plans for improved defences), it is common for the existing insurer to continue to offer cover after a flood but for other firms to refuse to take over cover. This avoid the householder being left without cover, but does mean they have little bargaining power over premiums.

Will I get the same deal as my neighbours?

One of the biggest complaints about home insurance in areas with a higher risk of flooding is that people in similar properties in the same location will be offered widely varying premiums and excesses, sometimes even from the same insurer. The ABI says this is because the risks and potential damages are affected by many factors which can vary even in fundamentally similar properties.



PLEASE NOTE: The guidance published in this article is for information only and does not constitute financial advice or a recommendation of any particular home insurance policy or company. If you are in any doubt please consult an independent insurance adviser. A database of advisers in your area is available at www.unbiased.co.uk

Copyright UK Insurance Index http://www.uk-insurance-index.co.uk. All rights reserved.


comments about this home insurance article

Comments About this Article:

 Add a Comment


share this home insurance article

Share this Article:



rate this home insurance article

Rate this Article:


Please rate this article between 0 and 5
with 5 being top.
All ratings received for this article.

all categories ALL CATEGORIES
A-Z Categories

popular categories POPULAR CATEGORIES
Car Insurance
Home Insurance
Life Cover
Mobile Phone Cover
Pet Insurance
Travel Insurance

directory categories DIRECTORY CATEGORIES
Business
Event
Health
Home & Property
Insurance Brokers
Life & Protection
Marine
Motor
Non UK Insurers
Pet & Animal
Personal Possessions
Specialist Cover
Sport
Travel

review categories REVIEW CATEGORIES
Business
Car & Motor
Health
Home
Insurance Companies
Life Cover
Motorcycle
Pet & Animal
Possessions
Sport
Travel

article categories ARTICLE CATEGORIES
Business
Car & Motor
General
Health
Home & Property
Insurance Awards
Insurance Guides
Life Cover
Pet & Animal
Travel

news categories NEWS CATEGORIES
Business Insurance News Feed Business News
Car Insurance News Feed Car and Motor News
General Insurance News Feed General News
Health Insurance News Feed Health News
Home Insurance News Feed Home & Property News
Life Insurance News Feed Life Cover News
Pet Insurance News Feed Pet and Animal News
Travel Insurance News Feed Travel News

FEATURED SITES
Churchill Home Insurance
Churchill Home Insurance
Award winning home insurance company with comprehensive features and price guarantee.

Aviva Buildings and Contents Home Insurance
Aviva Home Insurance
Get comprehensive buildings and contents insurance from the UK's biggest insurer.

latest listings LATEST LISTINGS
UKinsuranceNet Home Insurance
Age UK Home Insurance
Protect Your Bubble Home Insurance - 25 cash back*
Policy Expert Home Insurance Comparison
Staysure Home Insurance

latest reviews LATEST REVIEWS
Key Connect Home Insurance
Warranty Shop Home Appliance Cover
RIAS Contents Cover
Homeserve Boiler Cover
EON Full Plumbing / Heating and Drainage Cover

latest articles LATEST ARTICLES
Home insurance complaints what you can learn from others misfortune
What happens when an insurer won't pay your home insurance claim
Home contents insurance - limit your risk with the right cover limit
Are you a victim of the home insurance postcode lottery?
Will a flood leave your home insurance high and dry?



Home | Privacy & Cookies | Terms of Use | Contact | Submit Site | Advertisers

Page protected, do not copy

This website uses cookies to ensure a reliable browsing experience. If you continue to use this website you are consenting to us using cookies in this way. To find out what cookies are, which ones we use and why we use them please click here.

Copyright © 2017 UK Insurance Index. All rights reserved.
All directory listings, articles and reviews are provided as information only and do not constitute advice or a recommendation of any product or provider. If you use these insurers, we take no responsibility and give no guarantees, warranties or representations, implied or otherwise, for the content or accuracy of these third-party web sites or companies. If you have any doubts you should consult an authorised independent financial adviser for advice based upon your individual needs and circumstances. A database of advisers in your area is available at www.unbiased.co.uk.