Rising Flood Risk Cover
BRITISH homeowners are facing a house-insurance crisis as global warming and a surge in house building and conversion raises the risk of flood damage.
With very high tides expected this weekend insurer Norwich Union has written a stark warning to policyholders whose homes are at serious risk - in a move that should raise alarm bells across the country. Homeowners are being told to make sure they are properly covered and house buyers are being urged to check their property is not under threat from water. Norwich Union's flood manager Jill Boulton said: "We are concerned that heavy rain over the next few months may bring flooding problems in the winter - especially if that rain is as intense as we have seen this summer."
Five million people live in two million homes in risk areas with at least 500,000 are already in danger. NU has written to 2,000. More than 90 properties were swamped in Great Yarmouth, Norfolk and Lowestoft, Suffolk, last week in flash floods that could occur almost anywhere. And with sea levels on the up and climate change meaning that storms are becoming more frequent and more violent, the risk of this happening to you is on the rise - as is the cost of adequate cover.
From; Bad Flood Cover Can Put You In Deep Trouble, By John Husband, Mirror Money, 4 October 2006
More at; Flood risks
Submitted by Martin Slavin on Sat, 07/10/2006 - 18:03.