In the madness of the last few weeks, with so many homes and businesses flooded, it’s easy to forget that there is still no firm agreement between insurers and government on the future for affordable flood insurance. There is still a long way to go but – if you’ll pardon the puns – the water has been further muddied by the Prime Minister wading in.
One stumbling block in the current Flood Re affordable flood insurance proposal is that properties in Council Tax Band H would be excluded. It’s estimated that nearly 4000 properties in this category are at high risk of flooding. But, according to recent articles, David Cameron has ‘privately ordered a U-turn to ensure thousands of expensive waterside properties are not excluded’ (Financial Times). The arguments seem to be turning political.
Floods don’t discriminate
There are questions being asked about why this particular exclusion has been raised and not others such as new builds and business premises. Some argue that floods don’t discriminate between properties dependent on their value and all properties should be included; others say that there needs to be a limit on what is covered to keep the costs down for everyone else. But there are reports that expensive homes in flood areas would have to pay premiums which are 20 times higher than the national average if they are indeed excluded.
Whatever happens, this all is adding to the fear that no agreement will be reached by the expected date of 2015.
For anyone wanting to find out more about Flood Re, there is an excellent guide on the Guardian website.