Association of British Insurers calls for better flood-risk information for UK homebuyers
Nine out of ten people think flood-risk information should be included in material about properties for sale, an Association of British Insurers (ABI) survey has revealed today.
The ABI also criticised property search websites and marketing materials for new builds for lacking flood-risk information.
In light of the survey, the ABI is calling for more information to be given about properties’ flood risks, such as including a traffic light style warning for flood risk on property websites and estate agents’ materials.
“Flooding can ruin a home, destroying valuable possessions and often force you to move out while repairs are made. A higher risk of flooding also tends to mean higher insurance premiums,” said Huw Evans, ABI director general.
Evans continued: “With one in six homes at risk of flooding, we need to make thinking about flood risk as much part of the home buying process as school catchment areas and transport links. At the moment, information on whether a property is at risk of flooding comes too late, often when people have already invested hundreds if not thousands of pounds in the conveyancing process.”