A recent report from Go.Compare Home Insurance reveals a 30% reduction in home insurance quotes with flood damage claims since 2017, despite increasing extreme weather events in the UK.
Additionally, the number of home insurance quotes with a previous storm damage claim has fallen by over 20% between 2017 and 2022.
These reductions may be attributed to Government investment in flood defences and property flood resilience schemes.
Flood resilience advisor Mary Long-Dhonau OBE said “The Government has doubled its investment in flood risk management and there’s also been a large increase in property flood resilience schemes, which will have reduced claims. But this is in combination with other factors.
“Climate change is here, and flood risk will continue to increase, especially surface water flooding. Clouds are now heavier and move more slowly. This means they stay and drop their contents in one localised area. This type of flash flooding is much harder to predict.”
The Met Office reports that the UK is now 9% wetter than in 1961, and rainfall events exceeding 50mm have increased.
Ceri McMillan, home insurance expert at Go.Compare, added: “We hope that this downturn in flood and storm damage claims is a result of better flood protections and successful flood defence schemes.
“However, the latest expert data shows that surface water flooding is likely to become worse and more frequent, so investing in protection for your home is still incredibly important. Even if you don’t live in a high-risk area, it’s best to be covered for all eventualities.
“Flood insurance is included as part of any standard home insurance policy, so you won’t need to take out extra cover, but you’ll be protected from any damage or loss in the event of a flood.”
