Surprisingly it is flooding as opposed to fire which causes the most expensive insurance claims. It is found that the average flood based insurance claim costs the insurer £30,000 – and the number of claims is on the up.
It is estimated by the Environment Agency that 5 million homes are at risk of flooding now, making flood insurance cover harder or impossible to acquire for those worst affected. Anyone can see how their property would be affected by flood by accessing the Environmental Agency flood map.
Insurance will also take into account any steps you take to reduce the risk of flooding, which in turn may reduce the cost of any home or property insurance. This can take many forms but we suggest the Environment Agencies booklet “Preparing for Floods” is a good starting point to read.
Certain homes that have been flooded historically, or according to the environment agency, may be at high risk of flooding will find it very difficult to gain home insurance or buildings insurance. Horner Blakey Insurance Brokers will assist you finding what insurance options are available.
Horner Blakey Insurance Brokers are ideally placed in the Heart of the City of London, we have access to a wide range of experienced Insurers. This coupled with our own expertise in providing insurance solutions to high flood risk properties, will allow us to provide you with the most economic and competitive home insurance policy to give you peace of mind and security.