Homeowners insurance premiums expected to skyrocket in some U.K. regions

High-Valued Homeowners Insurance news

The price of coverage is expected to soar in areas where floods are known to occur. Properties that are located in areas that are at risk of flooding in Scotland could soon be facing a considerable increase in the cost of their homeowners insurance now that a deal that had been in place to guarantee affordable protection is nearing its expiration date. Homes impacted by the winter floods, recently, or that are located in areas of increased risk are being cautioned. The next time that homeowners insurance policies are renewed…

Read More

Homeowners insurance threatened for Scottish residents in flood-struck regions

Scotland flood homeowners insurance

People in Scotland could lose their coverage after extensive flooding hit their areas. British insurers are cautioning that thousands of people living in Scotland may suddenly find that it is impossible to purchase homeowners insurance for their properties unless the U.K. government is willing to underwrite the claims. At the moment, one in every 22 Scottish residential properties is at a flooding risk. According to data that has been released by the Scottish Environmental Protection Agency (SEPA), there are 125,000 properties in the country that could lose their ability to…

Read More