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Home insurance customers warned against making hasty claims

Mon, 18 Jun 2007

Home insurance policyholders who have suffered from flooding recently may find it is more cost-effective to avoid registering a home insurance claim, a financing analyst has suggested.

Over the past week, many rivers in Yorkshire have burst their banks following heavy rainfall, which has resulted in the flooding of nearby properties.

Commenting on the situation, Richard Mason, director of insurance at financing portal moneysupermarket.com, has suggested that less serious cases of flooding may not be worth claiming on since it could prompt the home insurance company to hike premiums.

Additionally, homeowners may find that it is not worth paying large excesses, he explained.

And he has urged home insurance customers to check the terms of their deal before deciding to register a home insurance claim.

"Homeowners living in flood-risk areas need to be more rigorous than others when it comes to insurance," he said.

"They need to check the exact details of what their buildings and contents policies cover."

Meanwhile, financial services provider Halifax Home Insurance has urged homeowners who fear they will be affected by flooding to take precautions such as moving furniture upstairs and positioning sandbags outside doors and windows.

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