Flood-risk homes on verge of being uninsurable,,,

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Talks between the Government and insurers over the future of cover for flooding are at risk of collapsing – at a point where homes most at risk have just three months’ protection remaining.

At present, insurers are required to cover high-risk homes while the Government strengthens flood defences. But this deal, known as the Statement of Principles, ends on June 30 and so far there is nothing to replace it.

No new deal: At present, insurers are required to cover high-risk homes while the Government strengthens flood defences, but this ends on June 30

Environment Secretary Owen Paterson reported last week that no new deal had been struck.

If a deal is not done, high-risk homes could be uninsurable and unmortgageable – and so potentially unsaleable.

  More... Floods - Coping with floods and making an insurance claim Get a home insurance quote

The Environment Agency estimates 2.5 million properties in England are at risk of flooding, with 300,000 thought to be at ‘significant’ risk.

The Association of British Insurers maintained that both parties were still committed to finding a solution. But it claimed any attempt by the Government to force insurers to provide cover would push up everyone’s premiums.

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