Protect your home against flooding

29 June 2023

The Environment Agency estimates that 5.2 million homes and businesses in England are at risk of flooding. Unfortunately, many homeowners are oblivious to the risks of severe water damage. What protection do you need?

Wetter and wilder

The Met Office’s UK climate projections show that climate change will cause more extreme weather events and sea level rises in the not-so-distant future. In 2023, spring has already brought snow and wintry showers to the UK, with flood warnings announced in parts of Derbyshire, Hampshire, and Lincolnshire.

It is important that homeowners think about their protection and how they would respond to an extreme flood event. But research shows that some 12% of people have no idea whether they live in a flood risk area.1


What is flood insurance?

The good news is that, in most cases, you don’t need a specific flood insurance policy. Most buildings insurance policies cover flood damage up to the rebuild value of your home, while you can protect your belongings with contents insurance (insurers may provide cover for vulnerable properties through the Flood Re scheme). If your home is fully protected and happens to be severely damaged by a flood, you’ll be able to claim on your home insurance policy to pay for the necessary repairs and replace your personal possessions. Each policy is different, however, so it’s always a good idea to check the details of your specific plan.

Flood risk

The Great British weather is predictably unpredictable. For homeowners, it might not be possible to control the elements – but you can make sure you have the right protection in place to lessen the damage should the worst happen.

1 Environment Agency, 2020

🚨 Data accurate as of the date of publication – 29.06.2023

🚨Think carefully before securing debts against your home.  Your home may be repossessed if you do not keep up repayments on your mortgage.

🚨 The above material is for informational purposes only and does not constitute a sales offer or financial advice. Before taking out any insurance, credit agreement or other financial product, you should obtain individual advice on your requirements and the general terms of the contract.


Source: Quilter Financial Planning – Essentially Mortgages Q2 2023

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