Flood insurance in a high risk area

GaryBC

Hi guys

I live near the Thames in an area which, back in 2013, was under two feet of water. Our property is three feet off the ground so all we lost was what was in the garden and sheds.

At the time there was much ministerial rhetoric about us being protected from unreasonable insurance rate hikes going forwards. This never materialised.

In spite of the fact that we made no buildings claim our insurers put such onerous conditions on us that we were forced to change company and continue without flood cover of any sort. "Come back next year", they all said. "It'll be ok once it's quietened down".

Next year has arrived and I'm ringing around for quotes. Rates are c£400 without flood cover and c£600 with - but with £7,500 flood excess and everything outdoors excluded! So much for all the ministerial hot air.

In 2013 our postcode experienced a 1:250 year flood and our property was above the water level. For our property to flood would need a 1:1000 year event. Which means that, statistically, it will never happen again in my lifetime. So where do I go to get flood cover at a reasonable rate?

societys_child

statistically, it will never happen again

In that case why do you need flood insurance?
Probably because you feel that just maybe, it might?
I guess the insurance company have the same worries.

nidO

GaryBC wrote: »

In 2013 our postcode experienced a 1:250 year flood and our property was above the water level. For our property to flood would need a 1:1000 year event. Which means that, statistically, it will never happen again in my lifetime. So where do I go to get flood cover at a reasonable rate?

I hate to be picky, but that's not really true. If you live another 50 years, statistically a 1-in-a-thousand-year flood has marginally under a 5% chance of happening. That's a 1-in-20 chance you'll be flooded again.

rs65

GaryBC wrote: »

At the time there was much ministerial rhetoric about us being protected from unreasonable insurance rate hikes going forwards. This never materialised.

http://www.floodre.co.uk/faq

hollie.weimeraner

Contact the Environment Agency on 03708506506 or email them at enquiries@environment-agency.gov.uk and request an Insurance Related Request. They will provide you with details of the flood risk area that your property is in along with the flood defences in your area that may appease the insurance companies.