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Uk Flood Costs Could Hit Insurance Premiums

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The Association of British Insurers expects the costs of home, commercial property and motor insurance claims to run into the "low hundreds of millions of pounds". A spokeswoman said: "It doesn't look as bad as 2007 but it's too early to tell the cost, as the floodwaters haven't receded in some areas. We won't know for some months."


Households also face higher premiums under a scheme being discussed between the government and the industry that would ensure 200,000 homes in areas at high risk of flooding can still get cover. Any house that would normally incur a much higher premium because of flood risk would have the extra paid out of a levy on every home policy in the UK.

Nice socialising insurance, I can't wait to contribute for those houses built on floodplains.

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Nice socialising insurance, I can't wait to contribute for those houses built on floodplains.

Better do away with those penalties for living in a high-crime area too. Or having a big and valuable house.

I know, let's just charge taxpayers to compensate everyone who suffers misfortune and gets media attention for it. Oh, wait ....

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  • 434 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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