Flood insurance is usually included as standard on most buildings insurance policies, but there are a few things you need to know to make sure your policy is the right one for you. Read on to find out more about the ins and outs of flood insurance.
What is a flood?
This might sound simple, but a flood is a defined happening for insurance purposes. It is an event that occurred outside the home, such as a river or canal bursting its banks, seawater flooding, or heavy rainfall. If the flood is caused by an issue inside, such as a leaking water tank, it is considered a water escape, not a flood.
The history of flooding
Just because your insurer didn’t ask you if your home is susceptible to flooding, doesn’t mean you shouldn’t tell them., In fact, you may find your claim is rejected if you haven’t been totally up-front about a heightened flood risk.
What does it do?
Flood insurance covers a variety of clean-up operations, including debris removal, professional fees, alternative accommodations and drying out, repairing and restoring your property, as well as its fixtures and fittings.
What about my things?
You will need to cover your contents on your contents insurance, not your buildings insurance. As a loose rule, building insurance covers everything you can’t take with you when you move, and contents insurance covers the rest. If items inside your house are damaged, you will need to claim on your contents insurance. It’s wise to opt for ‘new for old’ when insuring your contents, otherwise you will only be given the current value of the item, rather than the cost of a new replacement. This excludes clothing, where there is often a deduction for wear and tear.
What’s my risk?
Before you move to a property or take out buildings insurance, you can request local flood information from your local Environment Agency office. You can find your local office on the GOV.UK website.
