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Make sure you’re properly covered against the damage caused by flooding with a specialist flood risk property insurance policy. Compare quotes across a specialist panel of insurers here. Not sure if you need a specialist flood risk home insurance policy? Don’t worry – we’ve broken down everything you need to know about flood risks.
Get A Free QuoteA high flood risk area is any area that is at a 1% to 3% chance of being flooded annually. Typically, these are areas that are in close proximity to the sea, a river, a lake or a canal, however, areas with unusually high levels of surface water can also be considered flood risks even if they are nowhere near a large body of water.
At InsureMy we only ever work with trusted and reputable specialist flood risk area insurers and we price match every quote, so you can be sure you’re getting the best deal. Here are just a few InsureMy perks you may struggle to find elsewhere:
Don’t worry if you don’t know how likely your area is to flood, there’s multiple ways to asses whether your property is a flood risk. You can either pay for a professional flood risk assessment (also commonly referred to as an FRA).
Alternatively, there are local authorities that can help you determine if you live in a high flood risk area.
Flood insurance protects your home against any damage caused by excessive water. What you’re covered against will depend on whether you purchase buildings insurance, contents insurance or both.
Drying out your home and clearing any mess caused by the flooding
Restoring fittings
The cost of any legal fees (often an optional add-on)
Cost of rebuilding property damage
Furniture
Carpets and flooring
Personal valuables
Electrical goods
Read below to find out some of the most frequently asked questions around flood risk area insurance.
Typically, most building insurance policies will include cover against flooding (in principle). If you have purchased contents insurance, most policies will also cover flood damage too. Some policies may also cover the costs of temporary accommodation, but you should always read policy details carefully to ensure you have the cover you are expecting. However, if you live in a high flood risk area, some providers may exclude flood cover. It is always best to check policy documents to see what is excluded. Commonly, parts of your property that aren’t the main structure (i.e. fences) can be excluded and only a small number of insurers will insure against the risk of groundwater flooding.
While there are some measures in place to reduce the cost that flood risk adds to home insurance policies, proximity to water can still influence the final cost of your policy. Generally, the closer you are to a body of water, whether that is a canal, the sea or a river, the more you’ll pay for a home insurance policy.
Flood Re is a not for profit fund that all UK insurers must pay in to. The fund covers the costs of insurance claims made in high flood risk areas. This initiative means that the risk of insuring homes against flooding is spread evenly across all UK insurers. What this means for you as a consumer, is that it’s cheaper for home insurance providers to offer you a policy, and the price you pay is lower as a result. Every year, the fund raises £135m to cover the risk posed by flooding in the UK. You don’t need to liaise directly with Flood Re. When you get a quote for home insurance, Flood Re will already be taken in to account with the price you’re offered. Likewise, if you make a claim as a result of a flood, your insurance provider deals directly with Flood Re, which means you can proceed with your claim as normal. There are some exclusions with Flood Re. The main exclusion is for homes built after January 1st 2009. This exclusion is to ensure there is no incentive to build properties in high flood risk areas where damage is more likely.
While there are some measures in place to reduce the cost that flood risk adds to home insurance policies, proximity to water can still influence the final cost of your policy. Generally, the closer you are to a body of water, whether that is a canal, the sea or a river, the more you’ll pay for a home insurance policy.