Big freeze and thaw could see insurance claims rocket

The extended cold snap throughout the UK this winter wreaked havoc on roadways, commute times and slipping pedestrians, but its after-effects could be most chilling to homeowners. With a resulting 'big thaw,' potential damage to the home and home contents could be staggering.

As reported originally by the Independent, the Association of British Insurers estimates there to be approximately two million homes thought to be at risk from flooding, with around 200,000 marked as high risk for potential damage. The Environment Agency purports the number of potentially affected citizens to be five million in England and Wales alone.

Waters from thawing ice and snow, combined with heavy rain, could prove problematic for homeowners as the additional H2O could result in flooding damage caused by overburdened river ways or burst pipes within or near the home.

The ABI says that repairs after a major cross-country flood in 2007 exceeded £3 billion, but that compared to that incident, where the damage was relegated to several isolated areas, this time around it could be more widespread.

With homeowners facing a recession in 2009, it has been shown that many have cancelled or restricted their home insurance policies. However, in a flood-threatened area it is wise to compare home insurance policies to find the one that provides the most effective coverage.

Homeowners are being urged to monitor whether their property rests in a threatened zone, then take appropriate actions to safeguard against damages. The Environment Agency recommends keeping storm drains clean and clear, implementing flood barriers and refitting pipes with non-return valves if homeowners feel they are at risk.

Wed, 27 Jan 2010 01:37:00 GMT