Buying in a surface water flood risk area

BPGERRY90

Me and my partner are looking at a property that's perfect for us but the other year it flooded from a drainage problem in the area. The owner was open about this, has spent thousands beefingt up defences and the authorities are taking measures to reduce the risk buy taking action. We really want this house but we need to weigh up the risks both to insurance and for us more importantly resell ability in a few years down the line. Any advice would be greatly appreciated!! Kind regards

hazyjo

Don't think 'surface water' really makes any difference to insurance. I lived in a high risk house and the premiums were high and not everyone would insure me. My current house is surface water risk, and it doesn't see to have made any difference. I think it's more that the drains aren't so good, like you say. Maybe I'm naive but I'd not bat an eyelid at surface water risk.

Search the forum as I know it's come up before. Might be some more indepth advice.

Jx

booksurr

if the owner has spent £0,000 beefing up the defences of the property against surface water flooding then why are you worried about your insurance?

Insurance is only relevant if you claim.

If the defences are that good you won't need to claim. So, do what i do and simply buy an insurance policy that specifically excludes flood risks, that way the insurance covers those other things you need it for but not the flood risk that you don't need it for.

of course it will impact sale potential as there are loads of buyers scared witless by the risk of flooding. That is presumably reflected in the asking price you are currently paying anyway? therefore you won't make further losses as the loss is already in the price you are paying