At flood risk and uninsurable? Not necessarily

If you are one of the 5.2 million who are struggling to secure building and contents insurance because you’re considered “at risk” of flooding, you might not be looking the right place. Fortunately, an Insurance Broker knows exactly where to look. Here’s how having an insurance broker on side can make the difference between all or nothing when it comes to insuring flood risk properties.

You don’t need to look to insurance figures to tell you of the untold damage flooding can cause. It’s there for all to see, on the news, on social media, perhaps in some areas even at the end of your street, or worst still in your own home or business. 

The end of 2013 and beginning of 2014 saw the wettest winter on record and insurers received 17,500 flood claims homeowners, drivers and businesses, with an estimated £446 million being paid out to those affected. 
The Environment Agency now estimates that there are 5.2 million properties at risk of flooding in England. Homeowner or business premises within that 5.2 million as a result, are finding it difficult to secure an insurance policy themselves which protects the building and contents from the very risk it’s most vulnerable to.  

If you’re arranging a mortgage for a property or a loan for a business premises, you may have personally come to terms with the fact it may flood. You’re lenders, however, may feel differently. 

This is where an insurance broker comes in. As well as providing independent advice, their aim is to take scenarios that seem to be irresolvable, and try to find a solution. With a good view of the insurance market and established relationships with a wide panel of insurers, they are able to access the specialist resources of providers that you may not have previously encountered, to help you secure a policy for your home or business in circumstances that on paper, to an insurance provider, are less than ideal. 

If you have flood issues with your insurance, speak to me today to see if there is another solution.