Make sure you can get flood insurance

If you’re moving to a low-lying area, flood insurance is something you must consider when purchasing your next home. Water can cause substantial damage to homes and property so make sure you’re adequately covered should the worst happen.

UK Government cuts to funding for flood defence schemes across England and Wales could lead to increased destruction of homes and businesses, the country’s economy, and to coastal erosion.

flood sign

The environment secretary, Caroline Spelman, has acknowledged that the flood risks are rising because of climate change but imposed an annual cut of over 20 per cent on flood defence spending. One in six properties in the UK are at risk of flooding, according to the Environment Agency.

The changes could leave more than 50,000 households unprotected by flood defences. The Association of British Insurers (ABI) issued a press release in November 2010 showing that the cost of flood damage since 2000 has leapt by 200 per cent. Insurers who were heavily hit by claims from recent devastating floods will “inevitably” seek to increase premiums or refuse cover altogether, industry experts have said.

Owners of properties next to the Thames will be most at risk, but premiums across London could rise by as much as 10 per cent. The insurance industry has pledged to guarantee cover even to those living in flood-prone areas, under the Statement of Principles on Flood Insurance, but this runs out in 2013. Malcolm Tarling, of the Association of British Insurers has been quoted as saying “The environment Agency has said flood spend needs to double each year just to keep pace with current flooding.”

Read the rest of this post on the Pickfords Moving Advice Centre.

Moving home is a great time to look at your home contents insurance

Pickfords has introduced a home contents comparison website which we now introduce to our customers at the point of moving home.

Research showed that a home move is a trigger for many householders to review their finances and insurance arrangements, so we have created a service to help movers save money

Pickfords has negotiated a range of discounts and offers with insurance providers for home and contents insurance, lettings property insurance and vacant property insurance.  You can get a quote from the Pickfords website by logging in, filling out a simple form and our insurance engine will seek out the best insurances to suit your needs. 

If you would prefer to speak to somebody rather than go online, you can speak to a consultant on 0845 504 0660.

Give it a try and let us know what you think!