The Rising Risk of Flood
Currently one in six houses are reported to be in a flood area in the UK. In the majority of cases this is because many cities, towns and villages have been built next to the sea, rivers and streams. Historically this would have been done to provide them with water, food and transport. Due to areas around water sources being built up and adverse weather, in recent years we have seen some large scale flooding throughout the country. The government in turn has been investing heavily in flood protection to limit the damage costs. But are property owners still feeling the pinch when it comes to insuring their property against the peril?
In 2007 during the floods, which had a widespread affect to the UK, the insurers paid out an estimated ï¿¡3 billion and handled over 180,000 claims
Worcester during the 2007 flooding
My property has flooded before, can I still get insurance?
Yes, although it won’t be as simple as clicking and buying a policy online. If your property has previously flooded, it’s best to gather as much information to present to a specialist broker. With knowledge of the market they will save you time searching. Listed below are examples of some questions a broker may ask you to provide:
- Date of the flood?
- Any remedial work or defences put in place by you of the environmental agency?
- Cost of damages to the property?
- Proximity to any water course?
- Have the local authority since cleaned the drains?
The average flood claim costs between ï¿¡20,000 and ï¿¡40,000
But my property isn’t near any water and it’s never going to flood so why do I need the cover?
Although your property may not be near any source of water, you need to consider the possibility of surface water flooding affecting you. Usually the proximate cause of these claims is blocked drainage which causes a backlog of water to build up and spread to the surrounding areas. It can also happen when water is unable to soak into the ground normally due to continuous rainfall causing the run off to effect the property. What can I do to prevent this happening?
- Make sure street drains are unblocked and water is free flowing. If not advise your local authority.
- Consider your properties position amongst others around (is your property at the lowest point and possibly at risk?)
- Regularly clear run off gutters of leaves and debris on your own property.
Falling leaves can be the main factor for drain blockage
Where to check if my property is potentially in a flood area?
flood-warning-information.service.gov.uk/long-term-flood-risk/map
This is a useful tool to check if you property or any potential purchase is at risk of flooding including surface water.
How can my insurance broker help?
Your broker can advise you of the options that you have when insuring a property with potential flood issues. Ideally obtaining flood cover with a favourable excess and fair premium is the best outcome, but if this isn’t the case your broker may consider schemes that exclude flood cover. On this basis you need to consider the possible damage caused if a flood was to occur and be able to cover any loses that may occur. Information is important for the broker so making sure you are aware of the properties history and when it’s flooded is vital in obtaining a quick, fair and competitive quotation.
Thank you for taking the time to read this article. I hope you've found this article informative and have any other property related questions or issues, please don't hesitate to get in contact with me where I can assist and advise you with your requirements.
Tobie Vermeire CERT CII
Email - t.vermeire@sjlins.co.uk
Tel - 01905 27775
Website - www.sjlins.co.uk