Flood Re-vamp to Protect Homes - Call Wiser
Call Wiser Owl Logo

0333 003 3270 0800 298 2190

0333 003 3270
0800 298 2190

Call Us Now

For a quote from the experts


Mobile phone icon

Call from a mobile:
0333 003 3270

Phone icon

Call FREE from a landline:
0800 298 2190

Cartoon Owl

It's better to talk


Alternatively:

Let us call you

For a quote from the experts

Cartoon Owl
It's better to talk



Get An Online Quote

Select your insurance type below:


Car

Car Insurance – Click here for a quote


Van

Van Insurance – Click here for a quote


Bike

Bike Insurance – Click here for a quote


Home

Home Insurance – Click here for a quote


Umbrella

Other Insurance...
Please contact us by phone

You may be able to get better rates over the phone.
Call now to speak to an experienced advisor.

Mobile phone icon

Call from a mobile:
0333 003 3270

Phone icon

Call FREE from a landline:
0800 298 2190



Flood Re-vamp to Protect Homes

flooding-in-carlisle

Flooding is the UK's most catastrophic natural disaster. The country is regularly tested with heavy rainfall, leaving land and property under the threat of rising water levels. However last month the strain from high rainfall was the greatest Britain has ever faced in the single wettest month ever since records began back in 1910. As Storm Desmond, Eva and Frank battered the UK many homes in the North of England, North Wales and the border counties in Scotland were flooded.

Properties were flooded, roads destroyed and bridges swept away, with rainfall nationwide being 191% higher than average for the month. Records were also broken for the amount of rainfall within 24 hours (341.4mm in Honister Pass, Cumbria, Dec 5th 2015) and within 48 hours (at least 405mm Thirlmere, Cumbria, December 5th and 6th 2015).

December 2015 Floods in Numbers

  • 16,000 homes were affected by the flooding across the country, with the worst affected counties being Cumbria and Lancashire where over 5,200 homes were submerged.
  • Up to 60,000 people were left without electricity as power sub stations were flooded.
  • Estimated that the total cost of damage could exceed £5 billion.
  • £1 billion worth of damage to uninsured or under-insured families and businesses

For the residents of Carlisle, one the worst effected regions, the floods took them completely by surprise. Many were led to believe that the anguish of 2005 could not be repeated. After those floods, £38 million was spent on new flood defences which included raised levees, 30 flood gates and 2 raised foot bridges as well as CCTV cameras. The Environment Agency advised the citizens of Carlisle that it would take a ‘one in two hundred year event’ for the new defences to be breached. Unbeknownst to all at the time, the next catastrophe was only ten years away...

Introducing Flood Re

Many of Carlisle's community did not have home insurance when the city's rivers began to rise. Sitting on a flood plain many insurers simply wouldn't accept the risk of insuring a home that is easily prone to flooding. The few insurers that would be able to provide home insurance would only offer cover for flood insurance at the cost of a high premium, substantially too high for many residents.

Flood Re is a scheme which is set to launch on the 1st April 2016 which will allow consumers to purchase affordable home insurance even if they live in one of the 350,000 households vulnerable to flooding.

Not only will these homeowners benefit from cheaper premiums, they will also have greater choice in their home insurance provider as they will not be limited to the few insurers that would provide cover in a high flood risk area.

Insurers in the home insurance market will pay an annual levy of £180 million towards Flood Re, with each insurer paying a sum in relation to their total nationwide market share. In addition homes that would be covered through the Flood Re scheme will pay a set amount for the flood risk element of their buildings insurance, contents insurance or combined buildings and contents insurance. The different amounts are set through the council tax bands shown in the table below. This means that if you want to insure a property to cover flood risk as well you will pay a premium of the set amount dependent on the Council Tax Band plus the variable premium to cover other perils such as fire, theft or accidental damage.

flowchart-of-flood-re
Council Tax Band Buildings Contents Combined
A / B £132 £78 £210
C £148 £98 £246
D £168 £108 £276
E £199 £131 £330
F £260 £148 £408
G £334 £206 £540
H £800 £400 £1200


Flood Re will act as a reinsurer to insurers that provide home insurance to areas with a flood risk. If the customer makes a claim for flood damage the insurer would pay the claim and be reimbursed by Flood Re. All other perils to buildings and contents such as fire and theft would still be covered solely by the insurers as normal.

The move to introduce Flood Re was not only for insurers to gain more customers but it is also taking a holistic view of the home insurance market, particularly the moral dilemma that the people most in need of insurance are the ones who are finding it the hardest to acquire.

However, not everyone is happy with the scheme. This is because Flood Re only covers occupied residential properties. This means that commercial properties, most blocks of flats and second homes would be ineligible. Also properties built in 2009 or after are not covered. This was included to discourage the building of new properties in flood risk areas.

For more information on property eligibility visit the Flood Re website. Also for more information to see if your home is at risk from flooding visit the Environment Agency website.


For help in finding five-star home insurance speak to Call Wiser’s experienced and friendly broking team today.

We will find you the best provider from our panel of over 30 of the UK's leading insurers to get you the policy that you need.

Also with every home insurance policy, whether it is buildings insurance, contents insurance or combined, we include home emergency cover absolutely free.

Call from a mobile
0333 003 3270

Or FREE from a landline
0800 298 2190



Facebook

Find us on Facebook


Google+

Follow us on Google+


LinkedIn

Connect with us on LinkedIn



The Whiplash Epidemic – A Real Pain in the Neck

The UK has the weakest necks in Europe, according to claims statistics which show that whiplash accounts for 78% of all UK personal injury claim. Compared to France, in which more vehicle collisions occur, the number of personal injury claims from whiplash is just 3%.
Read more...




Tips for Driving on Icy Roads this Winter

During winter we can expect to see ice on the roads and even snow on our drives. It may be a surprise to some to discover that road fatalities fall during the winter months as drivers as drivers take extra precautions. However the winter weather can catch us off guard, which can commonly result in minor incidents, and frustratingly, an unwanted claim on the insurance.
Read more...



LinkedIn Google+ YouTube+ Twitter Facebook