According to a survey done recently, about 6 and a half million homes in the United Kingdom are at risk for flooding, with about one and a half million of them lying in high risk areas. Are you one of the six and a half million? Just thinking about that should make you a little nervous. So far in the UK, the government has prepared and completed flood protection for only around 80,000 homes.
With this fact, you might be in a lot of trouble if you can not obtain flood coverage for your home. You must know by now that if you live in a high flood risk area, insurance providers are not welcoming you with open arms to obtain their flood coverage. If global warming continues, this problem is only going to get bigger, and by 2030, the number of homes at risk is epected to be as high as three and a half million. This number is huge, and is something that everyone in the United Kingdom should pay attention to and prepare for.
Due to the severe flooding in the UK in recent years, especially in high risk areas, many insurance providers have begun considering the removal of flood insurance coverage from their policies. These companies have been hit hard by millions of pounds worth of claims. If the government is not able to increase the budget for flood defences, the companies will have to drop this coverage.
It is up to the DEFRA, or Department for Environmental, Food, and Rural Affairs to develop and maintain flood defences in the United Kingdom. The immediate result of all of the severe flooding is that residents of high risk areas who are somehow able to keep their flood coverage are seeing skyrocketing premium prices.
This news is especially bad for people in high risk areas, who are facing increases up to 400% in their premiums. Unfortunately if you live in these areas, you should not be surprised if renewal of your policy is denied or you are unable to purchase a policy to cover floods at all.
Internet reports also show that if DEFRA does not get on top of this problem, the possibility that UK 's current bill of 950 million a year for flood damage could rise to as high as 3.2 billion. The insurance claim for household flood damage in the UK is 30,000, a figure which is much higher than insurance claims for fire damage.
To help attempt to control this, the Association of British Insurers (ABI) is pressuring DEFRA to move faster in installing, upgrading, and maintaining flood defenses around the United Kingdom, with special attention paid to the high risk zones.
If you want to know if your current home or one you plan to move in to is one of the almost seven million at risk from flooding, you can check the flood maps at DEFRA's website, located at www.environment-agency.gov.uk. You can not ignore these facts, as your entire future might well be at stake, so please, find out today if you are at risk.
With this fact, you might be in a lot of trouble if you can not obtain flood coverage for your home. You must know by now that if you live in a high flood risk area, insurance providers are not welcoming you with open arms to obtain their flood coverage. If global warming continues, this problem is only going to get bigger, and by 2030, the number of homes at risk is epected to be as high as three and a half million. This number is huge, and is something that everyone in the United Kingdom should pay attention to and prepare for.
Due to the severe flooding in the UK in recent years, especially in high risk areas, many insurance providers have begun considering the removal of flood insurance coverage from their policies. These companies have been hit hard by millions of pounds worth of claims. If the government is not able to increase the budget for flood defences, the companies will have to drop this coverage.
It is up to the DEFRA, or Department for Environmental, Food, and Rural Affairs to develop and maintain flood defences in the United Kingdom. The immediate result of all of the severe flooding is that residents of high risk areas who are somehow able to keep their flood coverage are seeing skyrocketing premium prices.
This news is especially bad for people in high risk areas, who are facing increases up to 400% in their premiums. Unfortunately if you live in these areas, you should not be surprised if renewal of your policy is denied or you are unable to purchase a policy to cover floods at all.
Internet reports also show that if DEFRA does not get on top of this problem, the possibility that UK 's current bill of 950 million a year for flood damage could rise to as high as 3.2 billion. The insurance claim for household flood damage in the UK is 30,000, a figure which is much higher than insurance claims for fire damage.
To help attempt to control this, the Association of British Insurers (ABI) is pressuring DEFRA to move faster in installing, upgrading, and maintaining flood defenses around the United Kingdom, with special attention paid to the high risk zones.
If you want to know if your current home or one you plan to move in to is one of the almost seven million at risk from flooding, you can check the flood maps at DEFRA's website, located at www.environment-agency.gov.uk. You can not ignore these facts, as your entire future might well be at stake, so please, find out today if you are at risk.
About the Author:
Searching for advice on flood insurance , flood insurance basics or reducing your flood insurance premium? FloodInsuranceAdvice.com is a large information resource on all aspects of flood insurance. You are welcome to reprint this article - but get your own unique content version here.
No comments:
Post a Comment