Date: 20 Dec 2009 Comments: 0

News reports of flood warnings and current floods are started to becoming a regular thing. The latest floods this year hit in Cumbria last month. With climate change having a massive effect on the planet, the amount of homes that are at risk of flooding is expected to rise.

Currently the Environment Agency estimates that 1 in 6 houses are at risk of flooding. With this number estimated to rise in the next couple of years, we could be seeing even more flood reports on the news.

One of the biggest problems people living in areas at risk of flooding face is having to get home insurance, especially if it’s insurance for holiday homes. Due to a common flood claim costing around £40,000 to the insurer, you should always consider any expensive insurance when buying new property. Thankfully, there are quite a few websites where you can find information about the areas that are at risk of flooding.

If you live or are looking to live in England or Wales, you can visit the Environment Agency’s website where you can find flood maps. If you are a home owner in Scotland, you can visit the Scottish Environment Protection Agency website where you’ll find flood maps.

If you do own a home or are planning to buy a home in a flood risk area, getting your insurance won’t be easy. You’ll often find that as soon as your house has been flooded, your insurer will push up the premiums. You may find that you are not allowed to renew your policy if you have been flooded.

With every flood claim costing anywhere between £20,000 and £40,000, you should be prepared for a policy excess of up to £30,000. This is why when you’re buying property, you should always consider any insurance costs and add them to the price of the home. Getting second homes insurance can result in even more problems. Due to you leaving the property empty for most of the year, you have to watch for exclusions and high excesses.

I suppose this would never be a problem if you were after Spanish house insurance.