Summary
If you're thinking of buying a house in a flood area, read this.

Buildings Insurance and the Threat of Flood

By Tim Larden 14/05/05

What is the impact of increased flooding risk in the UK? What happens if your home becomes effected by flood?

Flood is an increased problem in the UK. Buildings insurance companies are concerned about the rising risk of flood. Claims to settle flooded properties are by nature quite expensive. Flood also tends to be a recurring threat at properties which means that once effected a home could suffer more than one flood in a short period of time.

This makes accepting flood risk properties difficult for UK insurance companies as there is almost an inevitability that the property will once again face flood damage.

The general rule amongst house insurance companies is that if a building suffers flood, the present insurer will continue to cover it at renewal of the policy. However you will be unable to switch insurer at this stage. Whilst this may mean you are stuck with a limited choice of insurers willing to cover the property, at least you are offered protection.

If you move into a property that is liable to flooding, you should investigate who previously insured the home. this might be your only chance of getting proper buildings cover for the property.

There are some flood specialists on the market who may be able to offer cover. Yourhomeinsurance.co.uk, a site dedicated to house insurance in the UK does not accept flood risk properties. Life insurance

Tim Larden writes for yourhomeinsurance.co.uk - buildings insurance a buildings and contents insurance site in the UK. The site also carries a house insurance news centre and has a useful zone for tips on reducing your home insurance premiums

Readers please note : You should undertake your own background checks before taking any action on any aspect mentioned in this article. Where the author has mentioned specific product details or given examples of how companies have reacted to specific situations, these should be correct as far as the author is aware when this article was written. In some cases additional background information not mentioned in the article has been used in obtaining the examples. Some examples or quotes may have been taken from information available in the public domain where all the background details may not be available. Insurers do change policy conditions and underwriting approach. They will view each situation on its own merits.

You should be aware that details of the topics written about within the articles can change. Therefore, always check out the current position before taking any action. You should also check that any action you are considering, or any proposed purchase, is suitable for your personal circumstances.