500,000 Homes could be Uninsurable
According to the Association of British Insurers, more than half a million homes could be uninsurable and therefore at risk from flood damage unless the Government steps in to protect them against flooding.
In a recent report 517,000 homes were identified as being at a ‘significant risk’ from flooding. The Association of British Insurers has then pointed out that with this in mind, these homes may not covered if adequate flood defences are not put into place.
Until the Government carries out a thorough assessment into the current risk to properties from flooding, many homes are at risk.
It has been reported that of the 180,000 flood insurance claims that were caused by last Summer’s flooding, over half were brought on by the flooding of drains and water coming up through them. The Environment Agency have also been asked to get involved in the preparation and coordination of flood risk as currently several parties are involved, which up until now has made it difficult to organise any clean up or implementation of defences.
Insurance companies have pledged to still offer cover for these at risk homes, under the condition that the Government can put adequate flood protection in place. However, this is under review and if Insurers are put in another similar position to last Summer, they will be left with no choice but to put premiums up, which will in turn make the insurance unaffordable.
There is wide spread concern that not enough is being done to tackle flooding and many people are concerned that their new homes, that are in at risk areas, are not going to be protected from flooding. In addition, there are calls for the Government to scrap plans to build 3 million homes by 2020 and concentrate on protecting existing homes, as the new builds are more than likely to be built on flood plains.
Again, there has been a call for a kite mark, to prove that homes are resilient to flooding and have passed certain tests to ensure this not only for those buying the homes, but to safe guard those insuring homes too. It is estimated that last insurers will have paid out around £3 billion following last years flooding and another Summer of flood could spell more misery and disaster.
All of the recent findings point to a call for a long term flood management strategy and in particular a resolution to the problem of surface drainage, if we are to avoid another Summer like last year.
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