Those with property in flood-prone areas should still be able to obtain suitable home insurance, one industry body has claimed.
Peter Staddon, head of technical services at the British Insurance Brokers' Association, explained that while some major home insurance firms are now refusing to cover such areas, there are other options.
He said: "Niche markets have developed and one of our members said they look at risk management and they are [still] capable of writing business [in such areas].
"They are capable of writing eight out of ten policies that have been rejected by the prime insurers ."
He added that people who need them should make sure they know how to access such home insurance markets.
The flooding in summer 2007 is estimated to have cost the home insurance industry around £3 billion.
A survey by eSure found that 87 per cent of people would not consider buying a home that has previously been flooded.
Flood-hit can still get home insurance, expert claims
Financial Services > Home lnsurance > Home Insurance News
Flood-hit can still get home insurance, expert claims
Wed, 02 Apr 2008
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