5 Important Things You Should Know about Protection from Flooding Under Your Home Insurance
When it comes to home insurance, it’s essential for you to check if your home is at risk of flooding and how your home insurance policy might be affected by this.
What is Flooding?
Flooding in home refers to when water enters or accumulates in a property at a steady pace. It should be remembered that flooding doesn’t need to always result from a natural disaster such as a storm.
Flooding can also result from:
A canal or river bursting its banks
A burst pipe
Storms or high tide
What is a Flood Zone?
The Environmental Agency has created flood zones that are used to find how likely a specific area is to flood.
The flood zones refer only to spots at risk of flooding from the sea or rivers, although not all rivers have been incorporated in calculating the zones.
Three different flood zones have been specified:
Flood Zone 1
Areas in this zone are least likely to undergo flooding during the year and have less than 0.1% chance of flooding in any year.
Flood Zone 2
Areas in this zone have between 0.1% to 1% chance of flooding from rivers in any year and 0.1% to 0.5% chance of flooding from the sea.
Flood Zone 3
Areas in this zone are the most likely to undergo flooding. They have a 1% or higher chance of flooding from rivers and 0.5% or higher chance of flooding from the sea.
Does Your Home Insurance Policy Cover You from Flooding?
Most buildings insurance policies protect you from flooding as standard, thus covers the structure of your property.
You also should have contents insurance which covers the cost of substituting your belongings if you want them too to be protected against flood damage.
Can You Get Home Insurance if You Live in a Flood Risk Area?
At present, insurance companies cannot refuse to cover homes at risk of being flooded since the government continues funding flood defences in that area.
However, owners of properties in at-risk flood regions often end up paying more for insurance cover.
Because of this, a new scheme named Flood Re, was introduced in April 2016 to make sure that homeowners with properties at risk of flooding are provided more reasonable cover.
What is Groundwater Flooding?
After it rains, the soil absorbs the water. Groundwater occurs when some of this water dribbles further down into rocks. Once these rocks are saturated, they produce what is called as a water table.
Groundwater flooding takes place when heavy rainfall makes the water table to elevate and makes it challenging for drainage networks and storm sewers to work properly.
Majority of home insurers don’t cover groundwater flooding under a home insurance policy. So, you should check if you think you live in a vulnerable area.
Ways to Reduce the Flood Risk
You can help protect your home from flooding in so many ways, like:
Removing all debris from gutters and drains so that rainfall water can drain away properly
Placing valuable items and electrical goods upstairs or in high cupboards
Take due care with these tips and protect yourself from flood damage.