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Home insurance is a must after further storms hit the UK

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by Kay Mitchell

Yesterday saw winds of up to 80 mph in the South West of England, resulting in damage to buildings and posing huge flood threats to coastal areas.

Research from Moneysupermarket.com has established that 40% of homeowners in the UK do not have home insurance. Over two million homes in the UK are on flood plains meaning 900,000 uninsured homes are currently at risk of flooding.

Lloyds TSB Insurance reported a 150% increase in new claims yesterday morning compared with an ordinary Monday.

Severe flood warnings throughout the day were issued yesterday by The Environment Agency. Barbara Young of the Environment Agency said there is still a threat of flooding in these low lying coastal areas in the South West and in Wales.

Andrew Lowe of Direct Line Insurance said the UK has been hit by a series of severe weather events over recent months so households may be even more vulnerable to damage than usual. Therefore, it’s even more important to prepare and secure your home against adverse weather.

Insurers recommend securing loose items such as garden furniture, checking for loose roof tiles and checking that guttering is in good condition.

If you are affected by flooding, it is advised to take photographs of the damage and holding onto damaged possessions long enough for them to be assessed in the case of a claim.

The British Insurance Brokers’ Association (BIBA) says households are being warned to take as many precautions as possible and to contact their broker or insurer immediately if they require assistance following storm or flood related damage.

The cost of repairing the damage caused by last summer’s flooding in Yorkshire and Gloucestershire has been put at £3 billion and the Association of British Insurers said its members had so far paid out £1 billion towards meeting claims.

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News posted: March 11, 2008

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