Estate agents should tell house hunters more about flood risk, say insurers

first_imgEstate Agents may soon have to provide more information about flood risk when marketing properties if plans published by the insurance industry come to fruition.Trade organisation the Association of British Insurers (ABI) has launched a ten-point Building Blueprint to reduce the number of home owners who face the horrors of flooding, fires and water leaks in their homes.This includes a call for house hunters to be given more information up front rather than making them wait until a mortgage valuation survey is completed.The ABI says £13 million is paid out every day by the industry for homes and businesses which have been damaged by weather or fire, and which make up 50% of all property-based insurance claims each year, it says.These claims follow the government’s recently-revealed plans to build 300,000 homes every year in England by the mid-2020s, which the ABI worries, are more likely to be built on flood plains.“Insurance is there when the worst happens, to fix your home or to help keep your business afloat after damage,” says ABI senior policy adviser Laura Hughes.“But it’s better for everyone if major floods and fires can be minimised or prevented entirely.“Environmental changes mean the risk of flooding is growing for many parts of the UK, and this year has brought us a stark reminder of the worst that fire can do.“As it embarks on an ambitious building plan for homes, it is important Government has a firm eye on the steps it should be taking to help all properties, including businesses, be more resilient in the face of these threats.”Other measures included within the ABI’s blueprint include more spending on flood defences and improving the planning process to prevent homes being built in high-risk areas.Association of British Insurers flooding December 4, 2017Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Estate agents should tell house hunters more about flood risk, say insurers previous nextEstate agents should tell house hunters more about flood risk, say insurersTrade body launches action plan to reduce the number of home owners who face flooding following government’s recently-announced plan to build 300,000 every year by mid-2020s.Nigel Lewis4th December 201701,247 Viewslast_img read more