Home Insurance - Floods: Homeowners Are Still Unprepared - 09/04/2008

A new survey has said that most of the homeowners that were affected by last summer’s floods were still not prepared in case there was a recurrence of the problem.

The study by Norwich Union found that about 83 per cent of residents of Gloucester, Tewkesbury, Hull, Sheffield and Rotherham feel they won’t be able to protect their homes.

The BBC said 95 per cent of the 1,500 people that took part in the survey had not secured their properties as further threat of flooding looms this summer.

Some 29 per cent of respondents admitted they were unaware of the risk they could face again.

Reports quoting the Association of British Insurance said there were up to 180,000 claims last year leading to pay outs of about £3 billion. Yorkshire, Gloucestershire and Worcestershire were worst hit.

Head of flood mapping at Norwich Union, Simon Black said they believed it was everyone’s responsibility to help reduce the risk of flood damage. He added the government could also contribute by investing in flood defences as well as homeowners doing their bit.

“While home insurance will protect people from the majority of costs caused by flooding, no insurance policy can replace those significant personal belongings with sentimental value,” said Mr Black.

He added further that no policy can spare families the discomfort and stress of moving out of their homes, which is flooded, while it is being dried out and put in order.

Last month, following bad weather across Britain, it was discovered that many households either did not have home insurance or were not adequately covered in case things went out of hand.
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