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Flooding increases the importance of home insurance
11 September 2008
While Britain is experiencing major flooding for the second consecutive year, many properties still do not have home insurance, according to a new study.
In a poll of 2,511 homeowners, research by Fairinvestment.co.uk revealed that 38 per cent of respondents claimed to not have any home insurance despite ten per cent of all British households being at serious risk of flooding.
Rachael Stiles, spokesperson for Fairinvestment.co.uk, said: "With so many homes at risk due to poor flood defences, home insurance really is a necessity that should not be forgone."
According to Ms Stiles, the government should take some of the responsibility for the level of flood damage over the last couple of years.
"Flood defences need improving, and until the government does more to prevent floods from damaging people's homes, insurers are unlikely to bring down premiums and excesses," she added.
Statistics from Homecheck show that property, land and assets worth £214 billion are currently at risk of flooding throughout England and Wales.
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