Flood Risk Home Insurance

Flood Risk Home Insurance

Is it not true to say that the UK including Northern Ireland, has seen some of the wettest weather for many years. This is compounded by over stretched local authority budgets so the aged sewer system cannot cope with excessive down pours. Also due to the increasing demand for property “at risk” land is being purchased by developers.

If you do live in the areas that have been flooded you will soon find that your property which includes commercial property as well as houses will be almost uninsurable and most importantly unsellable. Whilst it has been stated that insurers will not exclude the worst affected areas they will increase flood excess to as much as £25000 per loss. Although it is very doubtful if mortgage lenders will grant mortgages on this basis. You will find that premiums will greatly increase not only in the affected areas, but those surrounding them and when the risk worsens with more incidents of flood the premiums for the whole country will be affected.

Part of the problem is that panic has been caused by flood maps which as well as being hard to affectively use often do not go into great detail, for example if the property is in or near an at risk or affected postcode it does not take into consideration whether or not the property actually is at risk it may be at the top of a hill over looking the valley that was flooded etc etc.

Insiders reports show it was the insurers who specifically deal direct with clients rather the ones who work with insurance brokers who in fact suffered the worst losses perhaps they undercut rates in areas that traditional insurers were cautious of such as Boscastle and the like so anyone insured directly with the insurer will face major problems with their renewal premium if they can in fact get any cover at all.

Specialist and award winning Insurance Broker Delite Insurance Agency will find you an affordable solution no matter your circumstances, although in some cases additional flood defence may be required. As will all there specialist products they do promise that when you buy a policy from them it will always transfer to any future buyer. So that you have the added assurance that you wont be faced with an sellable property.