house insurance flood risk

hellvelyn

Hi,
just a quick question regarding house insurance and flood risk


I am in the process of purchasing a property and on the searches a surface water flood risk has been identified as a 1 in 75 year event. The property has never been flooded at all


We have been advised to get a more detailed flood search done which we are proceeding with but we have also been advised to check if we can insure this property for a reasonable sum before exchange etc.


I have looked at various insurance sites and compare sites and with all the questions there doesn't appear to be anything asking about flood risk other than - has it ever been flooded?- to which the answer would be no.


to me if it hasn't been flooded then it should be insurable.?? if I don't inform them of the flood risk would the insurance be void + how do I inform them or is it on a national register?


anything I should look out for or is it a matter of contacting an insurance company directly and discussing the risk (which I am reluctant to do).


thanks
chris

Quentin

Now you know there is a flood risk it is in your own interest to discuss this with insurers as you may want to sell the property in the future when your prospective purchasers may decide on discovering the issue that there are plenty more pebbles on the beach and go elsewhere.


If your discussions about this turn up problems or potential problems you too may decide the flood risk is too much of a worry and decide to look elsewhere!

InsideInsurance

There are normally two questions they will ask you, has it ever been flooded? and is it within X meters of a water course?

In addition to those questions they will also look up your postcode in flood software and use the result of all three elements to price the policy. You just need to get a few quotes to see how the premiums come out

Hopefully Flood Re will help with those in high risk areas once it comes online https://www.abi.org.uk/Insurance-and-savings/Topics-and-issues/Flooding/Government-and-insurance-industry-flood-agreement/Flood-Re-explained

rs65

hellvelyn wrote: »

if I don't inform them of the flood risk would the insurance be void + how do I inform them or is it on a national register?

Your obligation with regards to insurance is to answer the questions you are asked. You don't need to volunteer information.