Not taking out flood insurance ‘can lead to debt’

Homeowners whose properties are at risk from flooding should have home insurance, the Fair Investment Company has warned.

However, a poll by the organisation found 38 per cent of people do not have a home insurance policy and could therefore be at risk from getting into debt if their property is flooded.

A large cleanup bill after such an incident could mean homeowners struggle with rising debt management problems.

Spokesperson Rachael Stiles stated: “Brits are having to watch their spending as the credit crunch continues to take its toll, but home contents and building insurance should not be compromised.”

She also called upon the government to do more to improve flood defences around the UK.

Halifax recently suggested that unplugging electrical items and storing them upstairs, placing sandbags outside doors and moving sentimental items to a safe place are all prudent measures for homeowners in flood-prone areas to take.

By Rosie Park

track

Tell others:

shortlink