Thousands of property owners playing ‘flood roulette’

Confused.com is warning people living in low-lying areas to make sure they have adequate home insurance to protect themselves against the fall out from possible future flooding and power cuts.

Debra Williams, managing director of Confused.com, urged people not to be complacent: "If you are among the one in four people who do not have home insurance and live in a flood risk area, you are playing 'Russian roulette' with your property and possessions.

"The consequences of not having insurance or having insufficient cover are potentially severe. The typical claim for flooding stands in the region of £15,000-£30,000, yet home and contents premiums could be as little as £20 a month*. So if you don't currently have cover, ask yourself: can I afford the risk?"

An estimated five million people across the UK live in flood risk areas**. The Government is warning that the risk of flooding has not yet abated, and in some areas the worst is still to come.

Debra added:"Even those who have escaped the worst effects of the floods, are currently being hit by indirect consequences such as power failure. So far more than 50,000 people have had their electricity cut off, and many more could be at risk. Although many of these households have not been flooded, they could face significant losses which they may be unable to claim for, such as the cost of replacing spoilt food from defrosted freezers."

“The consequences of not having insurance or having insufficient cover are potentially severe

Debra Williams, managing director of Confused.com

Research conducted by Confused.com last July revealed that the average UK freezer contained £173* worth of food, while 34% of households filled freezers with between £200 and £500 worth of goods. Not all policies provide freezer cover as standard, yet for a few pounds most insurers will provide this extra cover, and extra piece of mind.

*Annual premium £243.49 (£22 if paying by Monthly Direct Debit) with Key Connect, based on 3 bedroom terraced house in Cardiff (CF5), £30k contents cover, £100 excess, no claims and no history of flooding.

**Bureau Insurance Services

According to the ABI one in four houses in the UK is uninsured