House buying: Severe surface water flood risk.

chrislee765

Dear all.

We are in the middle of buying a vacant house. We are first time buyers. Our searches have come back that there is a severe risk of surface water flooding (1 in 75 chance).

Environment agency have it as a low risk flood area (from rivers, sea etc).

There has been no history of flooding in the area but our concern is that insurance might be either expensive or refused for flood protection after June 2013, because of the flag on the area.

Does anyone have any knowledge about this that could please help us make a clear decision?

We don't want to be stuck with a property we can't insure.

Thanks kindly,
Chris.

geoffky

Get a dummy quote online using made up details but use the correct postcode ect ect.

notts_phil

Where is it based?

chrislee765

Thanks for your replies.
The property is under Portsmouth city council.

The quotes that I get are reasonable. I've read some articles and get the impression that after June 2013 I might not be able to get insurance. It's this that concerns me.

I shall ring some insurance companies tomorrow and ask them.

Thanks for your help.

Ellie83

We had the same dilemma regarding a property that was very close to a flood plain. When we called Direct Line, they told us that as long as the area had not flooded within the past 10 years, then it was fine. But the property still had a 1/75 chance of flooding so we decided against it. The house was honestly great but I know I would have worried every time it rained.

Good idea to call insurance companies. They should have plenty of data to see if the property is insurable.

chrislee765

Thanks all for your replies.
To keep you posted I did ring up the insurance companies. They didn't really understand what my fuss was about.

"Oh no, our system knows the risk based on your postcode and if that didn't throw anything up then it's just normal" well along those lines.

So thanks for your advice, we are happily going ahead.
Chris.

Hoof_Hearted

If it hasn't flooded this summer then the chances seem slim!

If there is a water course nearby you should be able to judge how many feet above the house is.

DannyboyMidlands

I wouldn't worry about it. The Government are proposing that people wise enough not to buy houses at risk from flooding will be forced to subsidise the insurance of divvies who do.

bryanb

DannyboyMidlands wrote: »

I wouldn't worry about it. The Government are proposing that people wise enough not to buy houses at risk from flooding will be forced to subsidise the insurance of divvies who do.

That's not the government, that's a definition of insurance.

Fuzzyness

from my knowledge half of portsmouth is at risk from flooding. have a look at the flood map on the Environment Agency's website.

have you asked the neighbours whether it affects them and what impact it has on their house insurance etc?

DannyboyMidlands

bryanb wrote: »

That's not the government, that's a definition of insurance.

I'm not so sure. Your premium would normally depend on the level of risk.

But in the case of flood risk, insurers are threatening to massively hike the premiums of those in flood risk areas. The Government are keen to "see that insurance premiums remain affordable" and will steal money off the sensible to do this.