When floods strike, the damage can be devastating. And with wetter winters ahead, more homes than ever could be at risk. If the worse does happen, will your insurance policy pay out?
One in six homes is believed to be at risk from flooding this winter. According to the Association of British Insurers (ABI) there are around two million homes at risk from coastal or inland flooding and around 200,000 homes at very high risk of flooding.
When floods hit, water spreads easily through homes and quickly causes plenty of damage. But many people could be leaving themselves open to severe damage to their bank balance by having inadequate insurance.
More homes at risk of flooding
Don’t presume your home is immune from being flooded. This year, surprising short, sharp storms brought chaos and unexpected flood damage to homes in East Anglia, the South-West and South-East. Some areas were deluged with their monthly average rainfall in just a couple of hours, along with high winds and violent thunderstorms.
In 2007, the last time we had major catastrophic flooding across the country, the repair bill for homes in Yorkshire/Humberside and the West of England/Severn Valley regions topped £3bn, according to the ABI.
Since then, local planners have approved at least 16 substantial housing developments in areas of flood risk. The move has left anyone snapping up a new home in those areas either facing high insurance premiums or being refused for home cover altogether.
Meanwhile, more and more families are discovering their homes have been reclassified as being in a flood plain, giving them the same problem. How can you find out if your home is at risk? Go to the Environment Agencies’ website – and put your postcode into the Flood Map box.
If you discover you are now in a risk area, you can bet your insurer knows too, and may be planning to hike your premiums at your next renewal period. Make sure you shop around to find the best deal available.
Get on top of insurance cover
It’s even worse for the millions who have cut back on contents insurance to save money during the credit crunch. The ABI says around a fifth of homeowners have cancelled insurance policies due to the recession. But these folk could be left in a position where they simply couldn’t afford to replace their possessions and property after a flood.
Anyone who has cancelled home insurance policies should therefore think again before the worse weather strikes and they face meeting a massive cleanup cost out of their own pockets. Other homeowners should dig out their policies to ensure they have the right cover. And when the time comes to renew your policy, it could be even more crucial than ever to ensure you get what you need. Choosing cover on price could end up a costly mistake if it doesn’t pay out when you need to claim.
Steps to flood-proof your home
In the meantime, there are many practical steps you can take to reduce the prospect of a flood causing catastrophic damage. For starters, you can ensure storm drains are clear of damage and debris and upgraded where necessary and you can put sandbags at your door.Other measures include using air brick covers which fit over ventilation bricks when flooding is imminent and some can be fitted and left in place to operate automatically. Fitting non-return valves to drains and water inlet and outlet pipes will also prevent waste water from flowing into the property during a flood. For more details, visit the Environment Agency’s website.
Finally, sign up for the government’s Floodline Warnings by calling Floodline on 0845 988 1188.
Further Reading:
Is your home at risk of flooding? Tips to stay dry from Confused.com
Home insurance buyer’s guide
Home insurance jargon buster
