Flood insurance is an important tool to help protect you from financial loss due to flooding. It can cover damage to your home, belongings, and business property caused by a flood or heavy rainstorm. You may also be able to get coverage for temporary living expenses if your home is unlivable after a flood. Here, we’ll look at some of the commonly asked questions about flood risk insurance.
What is the definition of flooding for insurance purposes?
Flooding for insurance purposes is defined as an overflow of water onto land that is normally dry. This can be caused by heavy rainfall, storm surges, melting snow or ice, and other natural causes such as rivers overflowing their banks or breaking through levees. It does not include damage from water that backs up from sewers or drains.
What types of coverage are available with flood insurance?
Flood insurance can provide coverage for damage to your home and belongings, as well as any other structures on your property. This includes protection from flooding caused by the conditions mentioned above. It also provides limited coverage for cleanup costs.
Can I get insurance in a high risk flood area in the UK?
Yes. There are some insurance companies that offer flood coverage in high risk areas, but they may charge higher premiums or require additional limits of coverage. It’s important to shop around and compare quotes from a range of providers to make sure you get the best deal for your home and belongings.
Do I need to buy a separate flood insurance policy?
Yes, you will need to purchase a separate policy for flood insurance if you want to be covered for flooding damages. This is because most homeowners’ and business policies do not cover damage from floods. However, it’s important to check with your insurance provider to make sure that you are not already covered by another policy.
Can you include flood insurance as part of your home insurance?
Yes, you can include flood insurance as part of your existing home insurance policy. However, this may come with a higher premium or additional coverage limits. It’s important to shop around and compare quotes from a range of providers to make sure you get the right cover for your needs.
What are the different types of flood risk insurance available?
There are two main types of flood risk insurance: stratum and policy-based. Stratum insurance covers the whole property, including any outbuildings or structures, while policy-based cover only applies to specific items such as furniture and appliances. It’s important to understand the differences between these two types of cover so you can make the right decision for your circumstances.
Can you shop around for flood insurance in the UK?
Yes, you can shop around for flood insurance. It’s important to compare quotes from a range of providers in order to get the best deal and make sure that you have adequate coverage for your property and belongings.