Home insurance a big issue for those at risk of flooding

Tue, 31 Jan 2012

Home insurance is a big issue for those living in areas deemed to be at high-risk of flooding .

Simon Douglas, director of AA Insurance - which includes car, pet, home and travel deals, among others - has warned some dwellings could become uninsurable later this year, despite flood protection becoming a national priority.

The industry figure explained many homeowners are eager for the government to take action sooner rather than later to make sure abodes are suitably protected, but warned the Environment Agency's budget cut of ten per cent means this is becoming increasingly unlikely.

Concern is growing in the sector regarding the escalating number of claims relating to extreme weather conditions, while the AA's British Insurance Premium Index revealed home buildings premiums climbed 9.5 per cent in the UK in 2011.

In addition, the price of contents cover jumped by 11.2 per cent.

Mr Douglas observed some insurers are claiming a number of flood-prone householders may find it difficult to renew their policies in 2012, adding: "Homeowners expect the government to take a lead on this issue: they need some reassurance that they won't be left unprotected."
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