Insurers warned over flood risks

Money News

www.moneynews.co.uk > Insurance > Insurers warned over flood risks

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

Insurers warned over flood risks

Insurers have been warned to make sure their property is properly insured against flood, following a recent prediction by the Environment Agency that 3.5 million homes are at risk of flooding.

Price comparison website insuresupermarket.com has pointed out that flood risk can increase home insurance premiums by over 60 per cent, and has told insurers that shopping around for a good deal is in their best interests.

Richard Mason, director of insuresupermarket.com, said: "With more insurers using flood map technology to identify the exact houses that represent the greatest risk, it's likely that this 3.5 million will soon have nowhere to hide.

"While there is a sad inevitability about the change in environment, it is still possible to find reasonably priced insurance, even if you are in a higher risk area."

He said that insurers who shopped around could save up to 50 per cent on their home insurance.

The Environment Agency report was published earlier this week and warns that insurance claims are likely to rise across the country as a result of climate change-related events like flooding.

Related News : Insurance

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet