South west floods show importance of insurance

By MoneyhighStreet Staff. Published on May 30, 2008 This post currently has no comments.

Floods
The Association of British Insurers (ABI) has urged homeowners to ensure they have adequate home insurance protection, after the recent flash floods in the West Country signalled what could be the beginning of another wet summer in the UK.

The association also reassured homeowners who have suffered as a result of the recent flooding that all household and business insurance policies cover flood damage and most offer 24-hour emergency helpline services to arrange for crucial repairs.

Nick Starling, director of general insurance at the ABI, said: "These events highlight just how important insurance protection is. If you have been affected by flooding, contact your insurance company. Their priority is to deal with all claims as quickly as possible.

It is estimated that insurance companies dealt with some 180,000 claims following last summer''s floods, at a total cost in excess of £3 billion.

Last year, the government pledged to undertake a thorough and comprehensive flood risk assessment of the UK and to improve flood map development. It also made commitments to improving flood defences and improving drainage systems.