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Flooding Claims

Added - 25/06/2007

Yet another typical year for the great British public with an absolute abomination of awful weather. The rainfall in 2007 has broken records again and also broken hearts as the flooding has been devastating in all areas of the country including areas that have never suffered from flash flooding before.

Scenes presented on the television news have highlighted the devastation householders with residential properties have incurred as they deal with rivers bursting their banks and drainage systems overflowing into their homes. The impact on the insurance industry is immense and 2007 is likely to be a very bad year for the underwriters and insurance companies dealing with household insurance flooding claims.

In most cases of flooding the damage extends much further than most people can imagine. Electrics and wiring have knock on effects to the already destroyed electrical appliances such as kitchen whites, the washing machines, fridges, and cookers. Carpets are also destroyed including other furnishings such as sofas and wallpapers. The damp caused by the flooding can take weeks if not months to dry out and in many cases portable drying equipment has to be bought in to aid the process.

Those that are fortunate enough to have home insurance usually receive an extremely fast service from insurance flooding claims and assessors whos job it is to analyse and calculate the damage and payouts are usually quick in coming forward. Over years of dealing with incidents of flooding in the UK the ABI (Association of British Insurers) has conducted in depth surveys to highlight areas that are most at risk and unfortunately these areas do incur higher insurance premiums to cover residential home insurance.

It is calculated that there are at least one point two million homes that are classed as at risk whilst there are thousands of others that incur flooding due to other unforeseen disasters such as drainage flooding and natural flash flooding episodes. A secondary concern many people have in relation to flooding is the knock on effect of property pricing, there is really evidence to show that house prices are affected by the results of flooding.

Obviously one element that remains directly out of the hands of man and the insurance companies is the weather itself and with the continuing concern over climate change it is clear this flooding issue maybe an ongoing insurance nightmare as the number of flooding claims continue to rise.

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