Flood victims suffer as insurance costs rise

Posted on November 8, 2009
Filed Under 1 |

Flood victims continue to face spiralling costs for home insurance as excesses for flood cover rise to levels that are making their properties virtually impossible to sell.

Many have invested thousands to protect their homes from flooding, but these efforts are rarely rewarded by insurers.

“People are coming to us with huge premiums and flood excesses of up to £30,000, which is as good as having no insurance at all and makes their property virtually worthless,” says Mary Dhonau, chief executive of the National Flood Forum, a charity that advises flood victims. “The problem has got steadily worse over the past year and we are now being overwhelmed by calls from homeowners who have spent a huge amount protecting their property, but are still being charged ridiculous premiums or refused cover altogether.”

http://www.guardian.co.uk/money/2009/nov/08/flood-victims-insurance-costs-rise