WITH flood warnings in place across Hampshire the online financial advice company, MoneySupermarket, have been in touch with The News to offer guidance to readers on flood related insurance claims.
This morning Hampshire County Council issued flood warnings for Fareham, Langstone and Emsworth with residents warned to “stay away from large waves and avoid driving through flood water”.
A MoneySupermarket representative said: ‘We’ve been keeping tabs on the news this week of flood warnings in the country and with the yellow warnings in Portsmouth we felt residents would appreciate seeing MoneySuperMarket’s top tips for making a flood insurance claim.’
Head of home insurance, Helen Chambers, feels it’s important residents are aware of the higher premiums in areas at risk of flooding.
Helen said: ‘Flood-related claims can impact your insurance in the long term as it’s likely insurers will increase premiums in proven high-risk areas. Insurance costs are 32 per cent higher for those in close proximity to water, compared to those living 400 miles away from a water source.
‘Taking precautions to avoid a claim will not only help keep a lid on your premiums but should also give you cheaper options next time you shop around to renew your policy. £96 is the average cost for buildings-only cover for properties that have never flooded before, compared to £199 for affected properties.
‘However, if you live in a previously flooded property, it’s important to declare this to your insurance provider as soon as you purchase the property – failing to do so could make your claim invalid.’
MoneySuperMarket’s Top Tips
- Let your insurer know immediately: if there’s a flood and it causes damage that necessitates a claim, you should tell your insurer as soon as possible.
- Gather evidence: it’s good to take pictures and video recordings of the flood and any damage it causes, as well as noting down details such as the depth of the water.
- Leave everything as it is: it’s best to wait until you’ve talked to your insurer before trying to clear or repair anything that’s been damaged by the flooding in case it affects your claim.
- Consider consulting a loss assessor: insurance companies can appoint a loss assessor to look into a claim for them and decide how much they’ll pay out, although you may need to negotiate with them to ensure you get a settlement that you are happy with. You could also contact a loss assessor to represent your interests and settle your claim for you – but you’re likely to be charged a fee for this service.