Database could cut home insurance premiums

5th August, 2005

A new database launched jointly by the Environment Agency, the Scottish Environment Protection Agency, and the Rivers Agency (Northern Ireland) should help to reduce home insurance premiums.

Users of HiFlows-UK will be able to assess the flood risk in their area, which could lead to homes in low-risk areas of flooding seeing their house insurance premiums cut.

If insurance companies can recognise the places that are at threat from flooding, insurance prices could possible be adjusted accordingly.

'HiFlows-UK underpins flood risk management in the UK,' said Peter Spencer, HiFlows-UK project manager.

'This important new source of data for flood estimation will be used over a range of applications, for example, the design of flood alleviation schemes, floodplain mapping, and flood risk assessments,' he added.

Flooding has been a problem for homeowners over the past few months and it is essential that homeowners have enough home insurance to cover the building and contents in case of emergency.

Freak weather conditions are becoming more prevalent, as the recent tornado in Birmingham shows, and it is important that homeowners are not left after an act of God with huge home repair bills that they cannot pay.

 

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