Residential Park Home Flood Insurance

Tryfan43

We bought our park home, on a residential park home estate,  just under 5 years ago. At the time any number of insurers were happy to give us flood cover which gave us peace of mind as the site is situated on a lowland area close to a major river. 12 months ago our insurer advised us that they were pulling out of the Park Home market altogether and we have subsequently not been able to find any company prepared to provide flood cover. It would appear that between us buying the home and now, the area has gone from no risk to low risk re flooding! We do not qualify for the Flood Re scheme due to the property being built after the qualifying date. Is there anything that we can do?

Sandtree

If it was built after 2008 then as you say Flood Re won't help and so the insurer is either retaining the flood risk or having to pay commercial rates on reinsurance. The negative impact of Flood Re is that the flood reinsurance market has narrowed making it more susceptible to volatility meaning higher reinsurance premiums. 

Your only route is to talk to some insurance brokers who can see if they can place the risk with the insurers that write static caravan insurance. 

tacpot12

This link might help: pb13082-flood-insurance.pdf (publishing.service.gov.uk)

If you home is a static caravan, then it might be possible to fit it with floation system. See here: Piston Flotation System for static caravans, holiday homes and lodge to minimize the risk of flood damage (marcheindustries.net)