Houses prone to flooding still insurable

Fri, 04 Apr 2008

According to the British Insurance Brokers Association (Biba), people with properties that are in flood -prone areas of Britain should still be able to get a home insurance policy.

There are a number of providers that have stipulated that they won’t insure certain regions, but Peter Staddon, technical officer for Biba, says this is not bad news for everyone.

He explained that there has been a development in niche markets and found that some insurers will still be able to write home insurance cover policies that may have been rejected previously because of their location.

Mr Staddon's claims come after an estimate from Sainsbury's Finance, which has suggested that the insurance industry could find they receive as many as 20,400 claims resulting from the storms last month.

A recent survey from esure found that 87 per cent of adults surveyed would not consider buying a property that had a history of being flooded .
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