Confused.com flood insurance call
www.moneynews.co.uk > Insurance > Confused.com flood insurance call
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Money News |
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Confused.com flood insurance call
Thu 11th Oct 2007
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Her comments came in the wake of news that insurers are considering not providing insurance for any floods that may occur in the future.
This summer's widespread flooding cost about £6 billion in damage, according to insurers.
Ms Williams said: "We've already seen insurance companies reassess what they consider to be flood-prone areas by increasing premiums, however without significant investment from the government, the insurance industry could potentially refuse to insure homeowners in high-risk areas."
If this happens then homeowners in certain areas will either have to risk not having insurance or may have to pay large additional premiums to specialist insurers, added Ms Williams.
In Britain there are currently approximately 2.2 million properties which are in areas that are prone to floods, she continued.
Related News : Insurance |
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Related News : Confused.com |
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