Flood Risk Home Insurance
Flooding is already a serious problem for UK homeowners and unfortunately things are set to get worse. Today more than five million people are at risk of flooding, and with more properties being built on flood plains and recent government cuts on flood defences; it’s a statistic that’s bound to rise.
Flood Re Home Insurance
Insurance companies have seen flood payouts rise by more than 200% in the past decade, so it’s hardly surprising that premiums have gone through the roof. However, it’s not all doom and gloom. Thanks to the advent of Flood Re and our knowledge of the market; we can help homes at risk of flooding find the right insurance at the right price.
Flood Re is a government backed scheme which provides a pool of funds to cover the ‘risky’ flood element of cover; allowing insurers to provide insurance to flood risk homes as they would to any other home. On a practical level Flood Re means significantly lower premiums and claims excess capped at £250. Flood Re is great news for homeowners living in flood prone areas and we are happy to be one of the first brokers comparing policies to find the most competitive deal.
So while we can’t prevent your home from being flooded; we can provide round-the-clock assistance and make sure that you have the right financial safeguard in place.
Homes with a history of flooding
If you live in a property that has flooded in the past you’ll know just how difficult it can be finding sensibly priced insurance. With providers either refusing cover or charging prohibitively high premiums; pretty soon your options begin to dry-up. The good news is that we have access to a number of specialist flood insurance providers and our expert consultants know how to wring-out the best deals for our customers.
Homes at risk of flooding
Even if your property has never been flooded it may be regarded as being at risk of flooding. Most insurers use data supplied by environmental consultancy firms which identifies flood risk areas by postcode. And because the flood risk map is constantly changing, the number of properties requiring flood insurance is constantly changing.
You may well have been with the same insurance provider for years and years to suddenly be refused cover. However, just because your property is in a postcode which has been identified as being at risk; it doesn’t necessarily mean your home is likely to be flooded. Perhaps you live on a flood plain, but at such a distance from the river that your property has never been flooded, or maybe your property is on much higher ground than others in your postcode.
Our team of expert consultants will assess your property’s risk factors and present your case to a panel of specialist underwriters. It’s a bespoke service, but by carefully explaining your individual circumstances; we are often able to negotiate some serious savings.
Policy details vary from provider to provider, but common benefits include:
- We can provide cover for all areas at risk of flooding, even if you have previously made a claim.
- We can provide cover for all types of property, including: listed buildings, holiday homes and rental properties.
- We can compare policies from Flood Re providers to find you the best cover at the best price.
- We can even provide competitive cover for properties which aren’t covered by Flood Re, such as: buy to let properties, blocks of flats and homes built after 2009.
- You can choose buildings cover, contents cover or a combined policy.
- You can choose to spread payments by monthly Direct Debit (written details available on request).
- Access to a 24-hour helpline should the worst happen.
To keep on top of what’s happening with the weather you can sign-up to the Environment Agency’s free flood alert service by visiting Floodline Warnings Direct.