Insurance claims concerning flooding could reach four billion pounds by 2035

Published: 18/11/09

Cooperative house insurance states that insurance claims concerning flooding could rise to nearly four billion pounds by the year 2035.

New research has found that about sixteen per cent of the UK’s properties are at risk from flooding. Therefore, the cooperative is trying to bring together local authorities and the Environment Agency to work more closely with insurers to get better protection for homeowners from water damage.

The Halifax has already disclosed that this year’s average cost when claiming for flood damage is around twenty thousand pounds per property.

Recently, there has been large amounts of rainfall and this could be a huge risk to some homes for fear of flooding.

For more information on buildings and contents cover see our home insurance comparison table.

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