I’m in a flood area – are insurers going to refuse to offer me flood insurance cover?
Insurance companies that are members of the Association of British Insurers (ABI) have a commitment to provide insurance for properties in flood warning areas. The Scottish Government and the ABI have issued a joint statement to this effect: Until 30 June 2013 ABI members commit to: ‘Continue to make flood insurance for domestic properties and small businesses available as a feature of standard household and small business policies if the flood risk is not significant (this is generally defined as no worse than a 1.3% or 1 in 75 annual probability of flooding). Continue to offer flood cover to existing domestic property and small business customers at significant flood risk, providing the local authority has announced plans and notified the ABI of its intention to reduce the risk for those customers below significant within five years.
