Flood Risk Insurance
As the saying goes, ‘it never rains but it pours.’ The UK is well-known for its adverse weather conditions and when the clouds gather it’s good to know you are protected by flood risk insurance.
Don’t forget, flood damage can be severe. It takes time and energy to repair damage but insurance can help with the costs. What’s more, if you need to move out while your home is restored, the right insurance package will offer you the financial safety net needed during this difficult time.
If your property has previously been flooded or you live on a floodplain where water damage to your home is likely, you’ve probably already received a bunch of ‘through-the-roof’ quotes from insurers. This can dampen your mood but at Quoteline Direct, we provide great value home insurance for flood risk properties that won’t leave a huge dent in your bank balance.
Flood Risk Insurance – Why Is It Important?
Flooding is a serious problem for UK homeowners with more than 5 million people at risk of flooding – and things are set to get worse. Britain is still building approximately 10,000 new homes a year on floodplains despite constant warnings over episodes of extreme flooding. Throw in recent government cuts on flood defences and you’ve got a rather dismal situation that doesn’t look like it will improve any time soon. That’s why home insurance for flood risk areas is so important.
The last thing you should do is ignore the dangers. Flood risk insurance is essential. It might mean paying out a bit more each month, but it is well worth it to protect your property and belongings. And at Quoteline Direct, we will find you a tailored and affordable quote to suit your needs.
Flood Re Home Insurance
UK flood claims are on the rise. In fact, insurance companies have seen flood-related pay-outs increase by 200% in the past decade, so it’s no surprise that premiums have sky rocketed. The Environment Agency has also warned that bouts of intense flooding are set to become more frequent due to climate change with 9 record-breaking rainfalls recorded since 2000.
The flood-risk situation looks pretty grim, but it’s not all doom and gloom thanks to a government-backed scheme known as Flood Re which provides a pool of funds to cover the ‘risky’ flood element of insurance cover, allowing insurers to provide insurance to flood risk homes as they would to any other home. Flood Re, coupled with Quoteline Direct’s extensive knowledge of the insurance market, means that those living in risky areas can find the right insurance at the right prices.
On a practical level, Flood Re means significantly lower premiums and claims excess capped at £250. As an experienced insurance broker, we are thrilled to be one of the first to compare policies to find a competitive deal and keep costs low for our customers.
Homes with a History of Flooding
If your home has been flooded in the past, finding a sensible insurance quote can seem impossible. The good news is that we have access to specialist high flood risk insurance providers and our expert consultants will write the best deals for our customers.
Homes at Risk of Flooding
There are many homes in the UK which have never flooded. That said, if your home is ‘at risk’ of flooding it may still be hard to get affordable flood risk insurance. Insurance companies tend to use data supplied by environmental consultancy firms and this helps them to identify high flood risk areas by postcode. To make things even more complicated, the flood risk map constantly changes, so while one minute your property may be low risk, the next your premium could be through the roof. Insurance providers you’ve been with for years may suddenly refuse to cover your home – just like that.
However, just because your property has been deemed ‘at risk’ doesn’t mean that it definitely will flood. At Quoteline Direct, we will assess all risk factors carefully before presenting your case to a panel of specialist underwriters. This allows us to negotiate some serious savings, especially if your property is set well back from that river which might burst its banks, for instance, or your home is on a hill.
Why Choose Flood Risk Insurance with Quoteline Direct?
Flood risk insurance policy details vary from provider to provider; however, there are many benefits of going through Quoteline Direct.
- 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.