Flood Home Insurance Case Study

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In this case study, 36 property owners of a private housing estate near Birmingham suffer substantial flood damage in the July 2007 floods and were helped by Kay International.  

Following a battle with the existing insurers, the Birmingham housing estate, did get an alternate quotation of nearing £15,000 which had doubled from the previous year.  In addition, the flood excess was £10,000 which was not acceptable to the various mortgage lenders.

This meant that as well as the anguish faced by the home owners clearing up after the flood damage they were put in a situation whereby the premiums were a struggle and the flood excess made the properties unmortgageable and unsellable.

Kay International helped by getting an in principle quotation within moments and this was accepted by the directors of the housing association. The premium was much more reasonable and so was the flood excess.   The policy also came with a guarantee to transfer cover to a new buyer.

If you own a residential or commercial property and suffer flood, the government has pressured insurers into offering cover at renewal.  However, the same terms are not neccessarily offered and this can mean significant increases in premium and flood excess.  If you find yourself in this position, click on the banner above to get a flooded property insurance quote.

The same principle applies to property that has been underpinned or has suffered subsidence.