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04-08-2016, 08:36 PM
1

Flood insurance.

My insurance is due for renewal in about 10 days and I received this letter from my broker Quote:

.....'Renewal terms have not been provided by your existing insurer Liverpool Victoria as they have re-rated the postcodes and unfortunately it is now a decline for flood'.

Tut. There's a piddling stream/brook across the road and although I've only been here for 4 long, tedious, really-loathe-the-property-years, the other residents say the brook has never flooded.

I've been doing the rounds online trying to read up on building insurance and came across Flood Re, which TBH I can't get my head around understanding. Anyway, Liverpool Victoria are apparently part of that. So, although my understanding is that you have to be in a High Flood area as part of this Flood Re (and I think this is a Low Flood area), I can't understand the reasoning for LVs decision.

Anyone else having similar problems with Building Insurance being hyped up for 'floods' and re-rated postcode?

BTW the broker included an alternative quote with Zurich. The Premium is 147 more than last year and that's taking into consideration the 9.5% increase of Insurance Preium Tax imposed by the Government from 1 November 15.
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10-08-2016, 08:45 PM
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Re: Flood insurance.

Guess no-one else is having problems

I need to run it past you folk if I may.

After my usual insurance company refused to insure me because of re-rating the postcodes and flood risk, an alternative company quoted me 275. Last year I paid 147.

They say now I'm in a High Risk for flood, even tho the brook has never flooded.

So phoning round today I found a company whose quote was 443! But without flood insurance it is 165.
So I went for the 165 and paid it. I have 14 days to change my mind and get my money back in full.

Have I done right or wrong....bearing in mind the brook hasn't flooded before?

Any input would be welcome

Edited
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10-08-2016, 08:54 PM
3

Re: Flood insurance.

If it's a risk you are prepared to take then go for it. As you say historically the brook has never flooded and if you feel sure that it never will there's no point in paying the extra premium.

Have you discussed this with your neighbours ? It may be worthwhile getting their opinion.

Good luck
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10-08-2016, 08:55 PM
4

Re: Flood insurance.

Hi Pesta what a nuisance you are affected just because of a postcode.

If you are confident you won't be flooded I would go ahead only you can decide if you are prepared to take the risk.

I am in an area that regularly floods but don't have a problem with insurance.
My house is above the flood level on a bit of high ground and will never flood.
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10-08-2016, 09:03 PM
5

Re: Flood insurance.

Originally Posted by myrtle ->
If it's a risk you are prepared to take then go for it. As you say historically the brook has never flooded and if you feel sure that it never will there's no point in paying the extra premium.

Have you discussed this with your neighbours ? It may be worthwhile getting their opinion.

Good luck
Thanks Myrtle.

Yes, I talked to my next door neighbour yesterday. They aren't due their insurance renewal for a while yet, but they are with Liverpool Victoria - the ones who have just refused me. So he will have that to come.
Mind you, there's more money coming into their house, so they could afford higher premiums.
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10-08-2016, 09:06 PM
6

Re: Flood insurance.

Did you ask your neighbour if he thought there could be a risk of flooding in the future ?
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10-08-2016, 09:08 PM
7

Re: Flood insurance.

Pest as I said I am in a high risk area near the river Severn and some people around me have a big problem getting insurance.

A local lady set up TNFF, you may find some help and information here...

http://www.nationalfloodforum.org.uk...ing-insurance/


more here...

https://www.gov.uk/government/upload...-insurance.pdf
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10-08-2016, 09:08 PM
8

Re: Flood insurance.

Originally Posted by Meg ->
Hi Pesta what a nuisance you are affected just because of a postcode.

If you are confident you won't be flooded I would go ahead only you can decide if you are prepared to take the risk.

I am in an area that regularly floods but don't have a problem with insurance.
My house is above the flood level on a bit of high ground and will never flood.
Thanks Meg.

I can only be as confident as anyone else would be - but we do seem to be flooding more and more in the UK.

My instincts was to go with it. So I did. Sometimes my instinct is wrong though.

If I decide to upsticks again, problem will be solved. If I can't find anywhere then....I'll have to stay here

I am a bit of a worry wart, especially as I've not had problems like this before. Thank you both for your thoughts.
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10-08-2016, 09:10 PM
9

Re: Flood insurance.

Originally Posted by Pesta ->
Thanks Meg.

I can only be as confident as anyone else would be - but we do seem to be flooding more and more in the UK.

My instincts was to go with it. So I did. Sometimes my instinct is wrong though.

If I decide to upsticks again, problem will be solved. If I can't find anywhere then....I'll have to stay here

I am a bit of a worry wart, especially as I've not had problems like this before. Thank you both for your thoughts.
See above Pesta post 7
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10-08-2016, 09:14 PM
10

Re: Flood insurance.

Originally Posted by myrtle ->
Did you ask your neighbour if he thought there could be a risk of flooding in the future ?

He said somewhere in his memory banks (haha, banks ) he remembers about 50yrs ago the houses on the other side to us (it's a cul-de-sac )had slight flood in their gardens. Apparently a sort of dam was built further down to stop it happening again.
Since then, nothing.

He says, like me, that we are slightly higher than the brook anyway. The insurance company who I agreed the quote with says I am 30m from the brook.

Hope you can make sense of that.
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