Flood insurance(11 Posts)
Help! About to exchange on a property and because it flooded in 1968 (as did much of London I think) we are having trouble getting insurance. Because this came up in our searches we've signed an agreement to our solicitor committing to disclose this when obtaining insurance.... So I'm sure they.will be looking out for it in our policy on behalf of our lender. So far all insurance companies have explicitly asked if the property has flooded so we've not been able to just bypass the issue. It seems totally ridiculous! Much of London will have flooded before the Thames Barrier was built at some point. Has anyone had this issue or have any suggested way forward?
Who do the current owners insure with ? Aren't they obliged to continue cover now ?
LIZS' is a good suggestion. We got round this by using a broker (St Aubyn something), they can pass on specifics to an underwriter who will look at individual circumstances. Also Nationwide quoted (as long as there are no endorsements on existing policy).
Whilst I have some sympathies for you trying to get insurance, I was staggered to discover that I am subsidising insurance for people whose houses have flood risk, not just in the normal who claims type of subsidy, but an additional levy applied to my policy so that insurers will continue to provide cover to people with flood risk.
We made a decision when we purchased not to live near the river, for just this reason, so I'm not impressed that I'm effectively paying for someone else to live where we decided not to.
The government came to a new agreement with the Association of British Insurers last month about providing flood insurance, have a Google on " flood re" (on phone, have failed to do link to this twice!). You should be able to get insurance. It will be pricier, but it's also now capped. Having said that, whether new owners get insurance is a grey area.
The insurers are asking you if your property has ever flooded because they need to assess the risk of this happening again, a bit like asking a driver if they have ever had an accident. Insurers also refer to the Environment Agency flood map, of properties which have the potential to flood ie, those that do not benefit from.defences or where they are defended, if the defence fails, and assimilate all this info into your premium. You can see this map too on the EA website, there a "Flood" clicky on the front page.
You may need a letter saying that there is no record of flooding at your property since the Thames Barrier was completed, which you can get from the Customers and Engagement team at your local Environment Agency Area Office (EA website, or pm me your new address and I can look it up for you at work).
If you still have difficulties, try contacting the National Flood Forum.
I realise this message would be a lot more helpful with links, but my phone is not.playing!
Rightio, off to work to see some flood defences bei.g built - guess who.I work for ?
But it's not just houses next to a river that flood. I lived in a house in one of the highest villages in England where the water used to pour off the field behind, through the garden and up against the house. My neighbours in front flooded from the inside out when British Rail opened the sluice to clear the railway line of water and a surge flowed up the storm drains and out of their toilet.
It's not nearly as simple as don't buy a house on a river.
We were in a similar position, the only main stream insurer we found who would cover us was direct line, and they didn't charge much more than it would have cost without flood cover.
Mikki, that is a very short sighted view. Around 20% of homes in England and Wales have the potential to flood from rivers or the sea, and we do not have the land take otherwise to provide for our population. Many more homes have the potential to flood from drains and culverts, these being essential infrastructure to everyone's benefit.
Mikki, anyone can be flooded even you. It's not a case of choosing to live in a flood risk area or not. I live on the top of a hill and not in a flood risk area. My house flooded last year due to flash floods and run-off from the blocked drains. Yours is a very short sighted view.
first, have a look on the EA site.
second, find out if any measures have been taken to prevent flooding since 1968. If so, disclose those to insurers and you should be able to get cover. I always could.
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