Flood Re could provide affordable flood insurance in the United Kingdom

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UK homeowners may be able to find inexpensive policies through new government program The United Kingdom’s new flood insurance program, called Flood Re, may be able to help homeowners in high-risk flood regions acquire the coverage they need affordably. The program is designed to ensure that homeowners have effective insurance protection against floods. Currently, many homeowners are paying massive insurance premiums for their flood coverage. The UK government intends to resolve this issue with the new insurance program, which aims to provide consumers with lower premiums. Floods can cause severe…

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UK’s flood insurance program could face major risks in the future

residential flood insurance news

Rise in house building may increase the risks of flood damage for some households The demand for housing is growing rapidly in London and this could lead to a surge in flood risks throughout the city. This could place the United Kingdom’s flood insurance program, called Flood Re, under a great deal of pressure, according to researchers from the University of Oxford. Researchers believe that the number of households eligible for Flood Re coverage will grow as much as 75% in the coming years. Flood Re program will launch in…

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Flood insurance program attracts criticism in the UK

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Flood Re may be three times more expensive than the benefits it offers Flood insurance is becoming a costly issue for homeowners in the United Kingdom. Flood Re, an insurance initiatives designed by the UK government and the Association of British Insurers, may be a costly burden on homeowners that want to protect their properties. According to the Committee of Climate Change, Flood Re will cost three times more than the benefits that it will provide to consumers. This could mean that many homeowners will be uninterested in purchasing flood…

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UK flood insurance leads to confrontation with Prime Minister

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David Cameron was confronted by a woman who accused him of a “betrayal” regarding the delay in the coverage program. United Kingdom Prime Minister David Cameron visited Yalding, Kent, only to be confronted by a woman named Ericka Olivares, who accused him and the Government of betraying the flooding victims through the delays in the UK flood insurance program when he had promised that premiums would be kept down. Olivares urged Cameron to push a deal forward that would make this coverage affordable. She pressured him to bring a deal…

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Homeowners insurance premiums in UK continue to fall

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At the same time flooding coverage is maintaining its threat of overwhelming expense. At the beginning of 2012, the premiums for homeowners insurance across the United Kingdom started to fall, and that trend has continued throughout the last three months, says the latest data released by AA. The most recent figures have indicated that the coverage is rapidly becoming cheaper to buy. In fact, the homeowners insurance data released from the period ranging from July through September has shown that the premiums for the coverage fell by almost six percent…

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