Close
  • Existing customers
  • Help
  • Home
  • Pet policies
  • Pet guides
  • About us
Open menu Bought By Many
Existing customers
  • Pet policies
  • Pet guides
  • About us

The Real Cost of Insurance in Flood Risk Areas

Ronny Lavie By Ronny Lavie 9th February 2014

From the end of last year Britain has been hit by devastating floods, with rivers all over the country bursting their banks, and enormous waves hitting shores in the worst tidal surge in 60 years:


source: kliksphilip on youtube.com


Many farmers and business owners have seen their businesses suffer greatly through the effects of the floods, and is it doubtful they will be able to return to a fully operational state.

It is believed the cost of clearing up the mess once the water subsides can hit £1bn, including a £500m bill for the insurance industry, which will no doubt be inundated with claims.

That said, the government's plans for affordable flood insurance have received extensive criticism for excluding thousands of homes and businesses by enforcing restrictions, such as leasehold and private rented properties not qualifying for the scheme, as well as more expensive homes. This is likely to exclude thousands of homes in the worst hit areas, particularly around the Thames:


source: The Telegraph


In Somerset, residents have been dealing with over a months of heavy flooding, and, with more rain and snow forecast for much of the country, there is no relief in sight. The government has been slow in responding to the crisis, which has added to the criticism from those affected:


source: BBC News


Until a viable solution can be found, owners of homes and businesses are advised to do their own research into the options that exist for them. We believe the best way to revolutionise the insurance industry is by using collective buying power, and demanding a better deal from insurers. By joining our House Insurance in Flood Risk Areas, you can add your voice to the cause and get all the information you need about the best insurance premiums for your property.


We wish all those affected by the floods all the best as they try to overcome the damage.

"A breath of fresh air in the world of pet insurance, far and way the easiest claim I've ever made, even though the claim was spread acros..."

Andrew Martin Andrew Martin
Read more testimonials

Join the group

Related Offers

  • Home Contents Insurance for Golfers
  • Home Insurance for Cyclists
  • Insurance for Family Homes
  • Tweet
More like this:

Best Home Insurance Deals, Q4 2014

Renewing your home insurance in the next 3 months? Here are our top picks of the best home insur...

  • by Sam Gilbert

Cruise Insurance Tips

You’re booking the cruise holiday of a lifetime and really looking forward to it. It’s far from ...

  • by David Woodfield
  • Reviews & guides
  • About
  • Jobs
  • Testimonials
  • Terms
  • Privacy
  • International
  • Help

Bought By Many Ltd is a company registered in England and Wales with number 7886430. Address: 1-10 Summers Street, London EC1R 5BD. Bought By Many Ltd is authorised and regulated by the Financial Conduct Authority - Register number 652623. This register can be checked for details of our permissions, history and contact details.