Home insurance against flood in a medium risk area?

pieroabcd

Hi,
i'm seriously considering putting an offer on a new build in England. It's an area developed alongside a river that according to the gov web site is at medium risk of flooding.
The house is (or will be, it's still being built) at approximately 50 meters from the line of the river.
I'm wondering if I would be able to get a home insurance against floods.
I can't even get a quote because I know only the post code, but not the real address.
Any tip or anything specific to look out for? I've never done anything like this before.
Thanks.

user1977

The planning papers (probably available online on the council's website) will have more detail about the flood risk (the government website won't take into account whatever the developers are doing).

pieroabcd

i've read some, but in none of them i've found an explicit mention of the flood risk ("not in the scope of this document").
Is the risk something that would come ouf from a survey, in time to get a proper quote from some insurance company and pull out of the purchase if the insurers weren's satisfied?

user1977

pieroabcd said:

i've read some, but in none of them i've found an explicit mention of the flood risk ("not in the scope of this document").

Can you clarify what you're looking at? Or tell us what the development is, and somebody here can see if they can find the relevant info? It's highly unlikely that the planners won't have considered the flood risk.

Is the risk something that would come out from a survey, in time to get a proper quote from some insurance company and pull out of the purchase if the insurers weren's satisfied?

No, that's not going to happen.

pieroabcd

Forgive me, but I feel very uncomfortable making names.
I'll check with the local council and see to find a risk assessment.
I appreciate your help and thanks for the tips, though!

paddyandstumpy

If you're hesitating now, imagine trying to re-sell in a few years. Buyers will have the same concerns you're having. It'll effect it's 'saleability'. 

Plus, if insurers aren't willing to offer flood cover, banks won't lend against it. 

Flood Re won't help, as it's a new build. 

You would hope the developer would put flood measures in place, but you could never be sure until it's too late, potentially. 

Is it the only choice you'll have? 

If you can avoid it, personally; I would. 

Thrugelmir

pieroabcd said:

I'm wondering if I would be able to get a home insurance against floods.

Insurance will price in the risk.  Local geography will be a factor.  50 metres from a river means little by itself. How high above the river level is the development?  Does the development sit on a flood plain? 

pieroabcd

It's not the only choice that I have, but they are really the only houses that I like so far.
I've  seen literally dozens of old and new build houses. In all cases I've been bitterly disappointed by the tiny 3x2 boxroom, slant ceilings, long and narrow kitchen.
These houses fit all my requirements, no ifs no buts (except for the cloakroom. I strongly dislike the idea of a loo at the ground floor -even more so if near the kitchen- but it seems to be unavoidable. I had already in mind a nice cloakroom cementification ).
There are already at least 50 houses already sold and inhabited there. It doesn't say a lot, but it's not something to disregard.

Anyway, it's definitely a question to to ask to the developer and the Council.

pieroabcd

Thrugelmir said:

pieroabcd said:

I'm wondering if I would be able to get a home insurance against floods.

Insurance will price in the risk.  Local geography will be a factor.  50 metres from a river means little by itself. How high above the river level is the development?  Does the development sit on a flood plain? 

The three times  that I went on site the river was at most 1 metre below the ground level.  Definitely not more.
I don't know if it's a flood plain.

ss2020jd

pieroabcd said:

i've read some, but in none of them i've found an explicit mention of the flood risk ("not in the scope of this document").
Is the risk something that would come ouf from a survey, in time to get a proper quote from some insurance company and pull out of the purchase if the insurers weren's satisfied?

It should be flagged in the environment searches your solicitor does. There is an additional specific flood search that you can also request. I don’t think they cost too much but it does mean you will have to spend out money on solicitors and searches first. 

The one I received had a specific section on insurability:

Insurability

Based on the data assessed within this report, an indication of whether buildings insurance is likely to be available and affordable is provided.

pieroabcd

ss2020jd said:

pieroabcd said:

i've read some, but in none of them i've found an explicit mention of the flood risk ("not in the scope of this document").
Is the risk something that would come ouf from a survey, in time to get a proper quote from some insurance company and pull out of the purchase if the insurers weren's satisfied?

It should be flagged in the environment searches your solicitor does. There is an additional specific flood search that you can also request. I don’t think they cost too much but it does mean you will have to spend out money on solicitors and searches first. 

The one I received had a specific section on insurability:

Insurability

Based on the data assessed within this report, an indication of whether buildings insurance is likely to be available and affordable is provided.

that's very good to know.