British homeowners are increasingly faced with a greater threat of having their homes flooded. However despite the home insurance to cover them in the event that their home does become flooded. Statistics from a recent survey show that almost 40 per cent of homeowners in the UK do not have home insurance cover on their property.
The figures also show that men are less likely to take out such a policy than women are. On average around 57 per cent of the men involved in the survey, said that they have a home insurance policy, where as 64 per cent of women, stated that they would take the steps to getting home insurance on their houses that would protect them against the risk, damages and financial expenses of flooding.
This year 2008 marks the second consecutive year of flooding within parts of the UK and for the 10 per cent of houses, which are most likely to be flooded, home insurance cover has never been more of a necessity. However, despite such risks, more than 38 per cent of homeowners do not have any form of chance of this happening, one in three homeowners still do not have home insurance cover on their house should it become flooded.
Further statistics from the housing firm, Homecheck properties, land and assets throughout England and Wales, that are worth around £214 billion are presently at risk of being flooded and if they are affected by a flood, the homeowners will have bills amassing several thousands of pounds to pay for.
Of the homeowners and tenants that are covered, those in London and Wales are least likely to have a home insurance policy that will protects in the case of floods; even though Wales has seen more than its fair share of rain. The region has seen an average downfall of 3,000 millilitres per annum, while England has 2,000 millilitres of rainfall, on average every year.
Rachael Stiles, said: “It has come as quite a surprise that such a large volume of home owners and tenants have no home insurance cover at all. Particularly considering the number of floods we have seen in recent years.
“With so many homes at risk due to poor flood defences, home insurance really is a necessity that should not be forgone. Brits, are having to watch their spending as the credit crunch continues to take its toll, but home contents and building insurance should not be compromised when flooding is such a real possibility in the UK.”