Nottingham Letting Agent Property Blog

The annual cost of flooding in the UK is nearly £1 billion, and many homeowners don't realise the problems of flooding can pose. Recent research shows there has been a lack of investment in flood defences, and the Environment Agency has said a major flooding event could cause damage of up to a quarter of a billion pounds, and it is predicting sea levels will rise by around 40 cm during the next 30 years due to climate change. If this threat materialises then it could significantly increase the number of homes at risk of flooding, and in 30 years’ time...

The Association of British Insurers have pointed out that as many as 200,000 homes may be unable to get insurance against flooding once current agreements between home insurance companies and the government come to an end on July 1 2013. At the moment an agreement called the Statement of Principles is in place which guarantees that homes at risk of flooding will be able to continue with their insurance while the government improves flood defences. As yet there is no firm commitment that the protection will be extended, and the ABI is keen to see the government take on at least...