INSURANCE DETAILS

Flood Insurance


Flood insurance is a specific product under the umbrella of insurance and it covers - as the name suggests - losses that occur due to flooding. In many cases, this form of protection (flood insurance) is part of the buildings and contents insurance, and if a property is flooded then the building insurance covers the cost, typically, of repairing and restoring the property and affected fixtures and fittings, and some other associated costs.

There are various risk factors involved with assessing flood insurance, notably of course whether the property lies on the flood plain of a river or other major body of water, how low lying the land is, how susceptible to flooding the area is and how many times it has flooded in recent history, and more besides.

When buying a house in the UK usually a flood check will be done on the property when you buy it and you will be told whether the risk of the property flooding is high or low and so forth. Of course if the risk of flooding is perceived to be very high, then you can struggle to get insurance at all.

Typically those who live in flood risk areas will be required to do as much as they can to flood-proof their homes when taking out insurance, or else they could face extremely high premiums and excesses, or may be refused cover.

It is estimated, according to government figures, that there are 5.2million properties that are at risk of flooding in England, with 1.4 million being at risk from rivers or the sea, 2.8m from surface water and 1m at risk from both.

If you are looking for information on obtaining flood insurance in a high risk area, then you might find this document on the www.gov.uk website a useful read.

Related Articles...

Vehicle Insurance
Vehicle insurance is the category of insurance products that cover, surprisingly enough, vehicles. These can be any sort of vehicle that you can think of, with of course the most common product...

What Is Insurance?
What exactly is insurance? It sounds like a very basic concept, but it is important to know what insurance is, in order to work out why insurance is so essential to modern-day activities, and why...

Travel Insurance
One of the most common forms of insurance product is travel insurance. Wherever there is travel involved, there is invariably risk, and infact a range of risks, and therefore an insurance product...

Motorbike Insurance
Motorbike insurance might sound like a bit of a niche category of insurance, but there are actually a huge number of people who ride these sorts of vehicles, and so even within this there are...

Agricultural Insurance
Agricultural insurance is a niche type of insurance product that is available for those who work in specific areas of agriculture. This type of product could offer piece of mind against various...

Home Insurance
Home insurance is one of the most common types of insurance product, and anyone who has a home will be familiar with it. Home insurance is usually contrasted with contents insurance, which is a...

GAP Insurance
If you have bought a car in recent times, then you will probably have come across GAP insurance as the vendor will have asked you if you want GAP insurance or not. If you are not familiar with...

Life Insurance
One of the most well-known types of insurance product is life insurance. And this does very much what it says on the tin - it insures against the life of a person. Thus, if the policy holder (the...

Contents Insurance
Contents insurance is a type of insurance product that covers the items that you have - the contents - of your home. There are a range of different providers of contents insurance out there on...

Prize Indemnity Insurance
Prize indemnity insurance is a purchase that would be considered by someone offering a large prize and thus could stand to lose a considerable sum of money. This form of insurance would mean that...

 © © Insurance Details    |    Copyright and disclaimer    |    Insurance Details