Preparedness for when

GreyQueen

thriftwizard wrote: »

Wishing your OH a swift & uncomplicated recovery, 1T, and you the strength to "carry" him through it.

Back to the floods: I'm struggling to see how the insurance companies are going to afford all this. Admittedly I know next to nothing about high finance, but surely they are going to take an immense battering here? It's not just homes, it's business premises, surgeries & hospitals, council assets like recreation facilities, and I'm prepared to bet that hundreds, if not thousands, of roads are going to be in need of urgent repairs. The flooding that hit Somerset a couple of years ago didn't really hit any major population centres but this has inundated cities as well as towns. And a number of commercially important routes, too; businesses are going to suffer until they're repaired.

And it's only the start of the winter...

I believe the insurance companies themselves have risk insurance with even bigger companies, the so-called re-insurers.

But there will be knock-on consequences for premiums and some householders will be denied flood cover, or effectively denied cover by pricing it far beyond their means to pay.

There will be positive economic events, too, as builders, tradesmen, suppliers of building materials, floor-coverings, furnishings, appliances etc see additonal business as the insurance money comes through and homes are restored to normality. It's an ill wind, as the saying has it.

There will also be grave personal consquences to individual's plans and wealth. I have seen a few pictures of flooded streets with homes with For Sale boards poking out of the floods. If any of those also are Sold -subject to contract, I imagine the buyer will pull out of the sale.

As well as the cost of putting right the damage, there is the likely loss of thousands, even tens of thousands, of perceived value in buildings which are now suddenly at flood risk, often for the first time in living memory.

calicocat

For me, owning my home was a way to save the inheritance I got from my dad so I didn't spend it on handbags or lobster, and would enable me to be rent free in retirement or before. This will then mean I can save money for said retirement.

I think these days though, things have to be more fluid, as we just don't know what's coming next..!

So now, I guess this means I have options. If I find myself unable to keep up with house repairs etc, or am finding running it physically difficult, or I decide to tour the world before I die.....then I can sell, rent leaving repairs to someone else, and do what I like with the money.

Before, I would have said that buying a bungalow would have been my idea later on. Now i'm not sure, and seem to change my mind on a bi-monthly basis......:D. Still.....keeps me on my toes.


Hope folk are doing ok with Franks offerings. Windy here , a few bins flying, and had some rain, but i'm east coast so lucky.

Hope all stay safe.

moneyistooshorttomention

thriftwizard wrote: »

Wishing your OH a swift & uncomplicated recovery, 1T, and you the strength to "carry" him through it.

Back to the floods: I'm struggling to see how the insurance companies are going to afford all this. Admittedly I know next to nothing about high finance, but surely they are going to take an immense battering here? It's not just homes, it's business premises, surgeries & hospitals, council assets like recreation facilities, and I'm prepared to bet that hundreds, if not thousands, of roads are going to be in need of urgent repairs. The flooding that hit Somerset a couple of years ago didn't really hit any major population centres but this has inundated cities as well as towns. And a number of commercially important routes, too; businesses are going to suffer until they're repaired.

And it's only the start of the winter...

Which is a very valid point - and then there are all those cars that are "up to their necks" in water and doubtless there will be insurance claims on them as well. I'm not a car-driver actually - so can I ask those who are why cars would still be sitting in areas that looked like they were about to flood - rather than having been driven to a safe parking space?

GQ - re your point about some of those houses are currently in process of being sold - I do wonder what will happen to them as well. I know the thought has already crossed my mind of "My house should be safe from flooding - as I have a surveyor report that is only 2 years old that says it IS" iyswim. I checked out the lay of the land myself and wouldn't have bought a house I felt was at all risky and certainly rejected at least one precisely for that reason - but did wonder whether some surveyors of recently-bought houses are about to have irate recent clients contacting them to say "You said......grrrr".

Frugalsod

GreyQueen wrote: »

There will be positive economic events, too, as builders, tradesmen, suppliers of building materials, floor-coverings, furnishings, appliances etc see additonal business as the insurance money comes through and homes are restored to normality. It's an ill wind, as the saying has it.

The increased economic activity from builders repairing property is not necessarily a good thing. It could divert the home owners money from debt repayments or even the purchase of a new car, or some other positive activity.

fuddle

That statement Frugalsod is why our country, in my opinion, is goosed.

GreyQueen

moneyistooshorttomention wrote: »

Which is a very valid point - and then there are all those cars that are "up to their necks" in water and doubtless there will be insurance claims on them as well. I'm not a car-driver actually - so can I ask those who are why cars would still be sitting in areas that looked like they were about to flood - rather than having been driven to a safe parking space?

GQ - re your point about some of those houses are currently in process of being sold - I do wonder what will happen to them as well. I know the thought has already crossed my mind of "My house should be safe from flooding - as I have a surveyor report that is only 2 years old that says it IS" iyswim. I checked out the lay of the land myself and wouldn't have bought a house I felt was at all risky and certainly rejected at least one precisely for that reason - but did wonder whether some surveyors of recently-bought houses are about to have irate recent clients contacting them to say "You said......grrrr".

It's difficult, isn't it? Some of the flooding in York was to properties which hadn't previously flooded, due to the raising of the Foss Barrier. So, surveys would have been based on the assumption that the Barrier would be deployed, not the events which actually caused it to be raised. So, is the surveyor legally or morally liable for what the EA did?

Re cars being stranded in floodwater, and why weren't they driven to higher ground? Could be any number of reasons. Off the top of my head, here's a few.

Flood came at night when owners were asleep. Cars were at home when householders weren't. Household contains a non-driver and the only driver was away from home. Floods arose in minutes or even seconds and there was no time to do anything at all. Householder priortised defense of the property over defense of the car....... I'm sure others can think of even more scenarios.

I very much doubt people stood around in 5 incehs of water wringing their hands before thinking perhaps they ought to drive out before things got any worse.

As in most catastrophic situations, it is a novelty for most people. It will be the first time many folks had ever seen a river flowing 4 ft deep down their street. People don't always act in an emergency in the way that they would act if they had a chance to rehearse and plan events.

Which is why we are preppers, isn't it? We are prepared to rehearse and plan. Perhaps a good exercise for car owners would be to plot their nearest route from normal residential/ workplace car parking space to higher ground. With a reserve plan, should some routes up and out be impassible.

The house I'm in has the family car sitting outside on the street. We are just above the 100m contour line, and the nearest watercourse is over a mile away on much lower ground. If it floods here, the rest of suvvern ingerland will be awash, too.

[Deleted User]

elona wrote: »

I posted on the daily os thread about the bridge being closed to cars and pedestrians. This morning a trip that should have taken half an hour took two and a half hours using a shuttle bus to bypass the bridge. I managed to get my prescription from the medical centre even though it had been flooded then got it made up from the chemist at the other end of the bridge. I also returned two parcels for DDs to the post office and faced the long trip home.

Local biggish supermarket is flooded and closed for a few weeks so I popped onto the other much smaller one and got a few bits and bobs. Fortunately I have stuff in freezer and cupboards as well and dd will drive me for more at the weekend.

Three dds phoned me saying what has happened with the bridge collapsing and was I all right. Just after posting on the daily thread the lights went out.

I used the light from the laptop to find my way to the circuit boards and they seemed all right so I looked outside and all the neighbours houses were dark so looked like a power cut.

Got upstairs to my bedroom and got changed and found a lantern/torch that worked . Also looked out tealights and safety matches but the matches would not light. Note - get ordinary matches. The phones did not work - note look out the landline old fashioned phone and plug it in,

When power came back on a half hour or so later DD and sil said they had heard we were being evacuated so were coming to collect me and take me to their spare room so I did not have to spend the night in the grammar school.

They were a little disconcerted when they arrived to be offered a hot drink etc and me being quite calm. They went out to find out what areas were being evacuated and discovered I should be outside that zone and safe. I offered them a home made frozen meal to take home which seemed to startle them as they were in rescue mode bless them.

I did discover that due to possible fractured gas pipes that the gas hob and oven did not work but I do have a microwave and a remoska/ Strange that I always though it would be the electricity that would be the main problem.

I will look out the old landline phone tomorrow and get a few more boxes of matches etc.

Should be interesting if I move house at the end of January as the bridge will still be out and the bungalow I am interested in is at the other side. EA selling the house I like is flooded and solicitor is also flooded!!! Oh Joy!

At least I am safe and warm and have food etc and feel dreadful for those being evacuated.

Glad you are ok Elona, we also live near Tadcaster and have heard about and seen the flooding and the Bridge - such a shame. Luckily we are also fine and are not near the main river. A 15ft wall collapsed in our town though due to the weight of the water saturating the soil behind it, blocking the road beneath it - luckily no one was walking by at the time!
Hope everyone stays safe

fuddle

Absolutely, the Foss Barrier failed. The pumping station became overwhelmed with flood water but the EA decided to raise the barrier anyway. It is thought that it had withstood higher waters in the past. The reasons they are giving for the decision is that it would have been worse had they left it down.

Like GQ says 600 properties flooded in a place that had protection since 1987.

Frugalsod

A new threat to deal with: Honey Laundering.

http://www.livescience.com/28039-honey-laundering.html

[Deleted User]

GreyQueen wrote: »

A property you rent out is an investment, a property which you live in is not.

In some cases, a property you live in, can be financially beneficial.

If I'm in a position to buy a property outright, or I've paid off the mortgage, I've effectively got a pay rise, equal to the rent/mortgage I used to pay.