Flood Dangers

Whilst there are many things to do with your home that you can change in order to save money on your home insurance policy, the one thing that you cannot change is the location of your property. Therefore, if you live in an area that is considered to be at high risk of suffering extreme weather there’s no way that you can reduce your policy to that which you would pay on a house in a non risk area. Still, there are certain things that you can do.

Extreme weather has become an issue for the insurance industry in the wake of the 2007 summer floods. The industry was forced to pay for billions of pounds of damage and refused to insure certain homes in high risk areas. After negotiations with the government the industry relented but costs are still very high in these regions.

If you live in such an area, then, there is nothing you can do about the base cost of your insurance, still, there are things that you can try and do to shave off a few pennies.

One of the things that you can do is make sure that the impact of such extreme weather is reduced. Make sure that your drainage is as good as possible and that you have hard floors downstairs so if you are flooded the damage is limited.

Another thing you can do is to vary your excess level. The excess is the amount that you would have to pay at the start of any claim that you make and if your excess is high (meaning you pay more on any claim) your insurance premiums will be lower as the insurance company will have to pay less on any claim that you make. Of course, you can choose to have a low excess, but your premiums will accordingly be higher. It’s a fine balancing act and you should get advice from a professional regarding your own specific circumstances.

If you are worried about the area in which you live you can check with the Environment Agency. They will be able to tell you in the face risk of certain weather extremes and most insurance companies will also be able to give you information directly.

Once you’re in an area of high flood risk, however, there isn’t a great deal that you can do. If you are moving house and are worried about the area into which you are moving make sure that you check with your insurance company first.

Home insurance is a necessary expense, if you suffer damage to your house it can be so extensive that you would never be able to pay to have things fixed yourself. Whatever your circumstances if you look around you’ll be able to find a good deal for your own circumstances. If you are looking for a new home insurance policy take a look at Co-Operative Insurance for some very good deals at the moment.

We have made our home insurance policies simple at The Co-Operative Insurance.