Ground Breaking New Flood Insurance - Peace of Mind for Flood Victims

FARNHAM, England, March 10, 2015 /PRNewswire/ --

Householders threatened by flooding have been thrown a crucial lifeline. People living in high flood risk areas are often forced to pay a high insurance excess to cover their properties. Flood Excess Insurance http://www.floodexcess.com offers householders and landlords the opportunity to insure their excess, either online or via their broker.

According to DEFRA's The National Flood Emergency Framework for England, published in December 2014, one in six homes in England is at risk of flooding. 2.4 million properties are at risk of flooding from rivers or the sea and 3 million properties are in areas at risk from surface water flooding. Some 600,000 of those properties are at risk from all three types of flooding. Many of these properties either cannot get insurance to cover flooding, or more commonly they have an increased excess applied to their policy.

Development of Flood Excess is spearheaded by Chris Netherton, Head of The National Flood School and Chief Executive of Policy Excess Ltd. Netherton explains: "In many situations, householders living in a flood risk area face not only a high premium, but a costly excess that can run into thousands. The worst possible time to have to find that kind of money to be able to complete restoration, is in the aftermath of a catastrophic flood. This new product enables that excess to be insured, so if there is a flood that cost is covered. It also fulfils a social need by helping people feel less vulnerable and trapped if they are in a flood risk area."

Well known flood campaigner and Chair of The Flood Protection Group Property Care Association, Mary Dhonau OBE adds:

"I have spoken to so many people who worry every time it rains hard about being flooded again. Not only are they worried about the horrendous trauma that being flooded brings with it but how on earth they are going to afford to pay the (often huge) excess? This product will give peace of mind to those who find themselves in this awful position." 

Premiums for Flood Excess Insurance are calculated using various factors that include advanced flood data mapping, exact location of the property concerned and the size of the excess premium. Please refer to the website http://www.floodexcess.com for specific quotes for individual properties.