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MSE News: Insurance scheme for flood-prone homes under threat
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# 1
MSE Helen
Old 26-11-2012, 5:20 PM
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Default MSE News: Insurance scheme for flood-prone homes under threat

"A plan to help 200,000 homes get affordable flood insurance is on the verge of collapse..."

Last edited by MSE Guy; 26-11-2012 at 5:50 PM.
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# 2
Old 26-11-2012, 6:17 PM
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The link above talks about a 8-10 levy on the 200k at risk homes, apart from this sounding like nonsense it doesn't chime with the other reports I've seen which are talking about a 10-20 levy on ALL home insurance policies (10, maybe 15m policies?) which would be used to cross subsidise & to provide cover for the 200k at risk homes and on top of that they want the government to pick up the losses if it all goes pear shaped

All sounds a bit rich coming from an industry which seems hell bent on increasingly narrow targeting of risk and a government seemingly in favour of letting the market decide.

Once you take flooding out of the risk equation what's next? A levy on all policies to provide subsidised cover for punters who live in high crime areas? or drivers who make a habit of bumping into things?
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# 3
Old 26-11-2012, 6:32 PM
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flood will be covered with a premium in 1000s and xs about the same!

some people will find it unfair as it will just all be about the postcode!

property prices will be effected. no one ones flood prone houses.
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# 4
Old 26-11-2012, 6:41 PM
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Insurance companies (if that's what you call them), Happy to take your money, Not so happy to pay out.
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# 5
Old 26-11-2012, 9:30 PM
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Join Date: Nov 2012
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We had a 45,000 flood claim in July 2007. When our insurance was due for renewal our premium went from 400 to 2000+.

We spoke to a company called A-Plan Insurance in Salisbury and they managed to insure us for 600, we have been with them ever since, seeing our price rise only to about 650 after 5 years.

Worth a try if you are struggling to find a company who understands flooded or high risk flooding properties, worth a try, on 01722 820530.

Good luck!!!!!!!!!
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# 6
Old 30-11-2012, 3:42 PM
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The is a good resource fot those having trouble getting insurance.
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