Summary:
The increased levels of flooding in the last few years, have made numerous homes uninsurable. This article looks at the new schemes the government has agreed with insurers to allow  more householders to purchase cheap home insurance . On the other hand, there will be a number of people that still can’t get it.

Thousands and thousands of homeowners will still be able buy essential insurance against flooding. It has been revealed that insurers have achieved an agreement with the government after they consigned to a long-standing flood protection deal. 

Under the arrangement, insurers have guaranteed to give cover to any property judged to have a dangerof less than 1 in 55 from flooding.

On condition that policies are in position to diminish the risk to an acceptable level within the next 4 years, insurers will continue to make policies available to existing domestic and small business customers. The Environment Spokesperson said that to attain these strategies the government has committed itself to a long term thirty five year strategy to develop flood fortifications.
The government aims to remodel defences and press householders to safeguard their homes would mean that current statement of principles agreed by insurers could conclude in 2016.

This arrangement comes over a year after floods battered parts of The Midlands, Hull Gloucestershire. These floods produced 183,000 claims for flood-harmed houses, businesses and cars. Settlements from insurance companies came to an extortionate 5 billion pounds.
The Minister told BBC Radio 4 Today programme: “The insurers very sensibly said that it is important to have a long-term policy – 26 years is the figure that we are going ahead with.

“We are examining coastal flooding and surface water flooding as well as river flooding, to ensure that the increased investment that we have, is maintained in the long term.”

Then again, the Minister omitted to say how many properties may fall outside the one in fifty five risk band and be classed as not defendable against floods, saying just: “That is not for government to announce.”

He also said how imperative it was that the Environment Bureau makes use of its new influence to stop any new housing or industrial developments that may be at risk from flooding. He also said that life cover companies were now ready to provide better premiums to householders who do something to make their houses durableagainst the chance of swelling flood waters
He added: “What has altered is the climate change predictions that the experts are giving us – that the extreme weather conditions are going to intensify in the next decade.”That necessitate a long-term approach … It is something we have been discussing with the insurance companies. They, quite pausibly, want to have confidence that houses are protected and we, quite justifiably, want to do that in any event.”

A spokesperson of the Association of British Insurers said the agreement would make sure flood protection remained extensively accessible to homeowners.
“This deal is terrific news for everybody in danger of flooding,” he added. “We are pleased that the government accepts that a long-term investment plan, properly funded, is the most proficient way to deal with the growing flood threat.”

The Association of British Insurers had previously cautioned that more than half a million properties might become uninsurable, unless the government invests more money in our flood barriers.

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