Motaquote to target homeowners with flood risks
Welsh based high street insurance broker Motaquote is expanding its home insurance portfolio with a new flood risk insurance product targeting homeowners at high risk of flooding.
As part of its ongoing expansion to grow the branch network, Motaquote is launching a new flood risk insurance product specifically targeting those living in a flood risk area, who have previously struggled to obtain appropriate insurance cover.
The Welsh Assembly Government recently announced it is to invest £13.3m for new flood defence measures in east Wales.
Managing director Nigel Lombard, highlighted the need for homeowners living in flood risk areas to be more rigorous than others when it comes to insurance: "Flooding is a major issue in Wales. The announcement that Welsh Assembly Government is allocating £13.3 million for new flood defence measures shows they are taking the risk of flooding seriously.
“The devastation caused by the dramatic floods of 2007, which damaged 48,000 homes in England and Wales and led to over 180,000 insurance claims, shows just how vital it is for people to be able to insure their homes and livelihoods against the risk of flooding.
“Given the current tough economic climate, it is perhaps more important than ever for homeowners to have quality insurance in place to protect their assets. Without the right type of insurance cover, homeowners could be left footing bills for tens of thousands of pounds in the future.
“The launch of our new flood risk insurance is good news for the thousands of homeowners in Wales who rely on insurance for financial protection from the cost of flooding and provides peace of mind.”
Graeme Trudgill, technical and corporate affairs executive at the British Insurance Brokers' Association added: “The problem of flooding is not going away and the government must listen to insurance brokers who are at the sharp end, helping people to rebuild their lives after the devastation that flood brings. Cover for flood prone properties is available from brokers.”
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