Flood damage emphasises importance of insurance
Personal insurance
4th January 2010
The need to ensure that homes are properly covered by insurance has been highlighted following recent heavy rains across the UK, according to Giles Insurance Brokers Ltd. Homes in Cumbria, Lancashire, Scotland, Northern Ireland and the north-east of England were particularly badly hit by storms, with many areas succumbing to flooding.
In such cases, it is vital that homeowners have effective insurance policies in place to protect both their properties and their possessions, both of which can be damaged and need replacing or repairing in such incidents. These costs can run into the thousands or even tens of thousands of pounds and effective cover can help to meet bills.
Plans were unveiled in the Queen's Speech on November 18th for the flood and water management bill, which will provide additional protection for around five million properties in Britain currently deemed to be at risk of flood damage. The move has been welcomed by the Association of British Insurers as a response to campaigning by the industry, which has wide experience of helping victims of floods and extreme weather. Acting director-general of the body Maggie Craig suggested the legislation "should represent an overhaul in flood management", declaring that "its progress into law should be a priority".
Her remarks were echoed by the organisation's director of general insurance and health Nick Starling, who issued advice following recent storms, including recommending homeowners contact insurers as soon as possible in order to keep them updated and start the claims process. However, the proposed legislation will not take effect for some time and it is vital that households protect themselves financially with insurance policies in case flooding occurs.
Many providers offer alternative accommodation and 24-hour helplines in the event of water damage to provide information and support and can help homeowners to start the process of drying out and restoring residences as soon as possible, minimising harm and helping people to return to normality more quickly. Anyone suffering flooding in Britain is advised to photograph or keep items that have been damaged wherever possible in order to assist insurers.
Susan Young, group personal lines director at Giles Insurance, explained: "The recent damage caused in Cumbria and other parts of the UK is a reminder of how many homes remain at risk of flooding. Property owners should make sure that they have full home and contents insurance in case such an incident occurs, as providers can offer much-needed assistance, as well as arranging repairs and the replacement of items damaged by water in such circumstances.
"When flooding occurs, the advice and information available through insurers, many of whom have extensive experience of natural disasters, can prove invaluable to families whose whole lives may have been turned upside down."
Those seeking comprehensive building and contents insurance that protects against flooding are advised that Giles is one of the UK's leading insurance brokers, with access to some of the country's top insurers and can search the market for the right insurance product to suit the needs of commercial and personal customers.
