Insure properties to protect from flood risk
Published On 17 November 2006
Residents who live in high flood risk areas in the UK have been advised to make sure their property insurance is full and up-to-date. A new poll by Direct Line Home Insurance has revealed that two in five (42 per cent) of residents in flood risk areas want the government to increase expenditure on flood defences.
And given that 27 per cent of homeowners have been the victim of floods in the last ten years with each incident costing an average of £6,000, homeowners are being urged to consider adequate home insurance.
Andrew Lowe, Direct Line Home insurance spokesman, said: "Residents are more worried about flooding than ever before, with one in five (22 per cent) believing that it poses a bigger risk than burglary.
"Flood damage is often unexpected and it's really important that homeowners make sure that they are properly insured.
"Our research shows that victims without proper cover have had to raid their savings (18 per cent) or cancel holidays (12 per cent) in order to make up the shortfall."
Some 14 of those questioned said they would consider paying a flood tax in order to protect their homes against ruin.
