Do You Have A Large Flood Excess On Your Insurance?
Over 5 million properties are at risk of flooding in the UK. We know that floods can turn lives and companies upside down, leaving business owners saddled with prohibitive uninsured expenses. We are seeing more and more insurers add high excess’s to insurance policies in the event of flooding at a property.
In view of this we have teamed up with simply named ‘Flood Excess Insurance’ to provide a policy that will pay your excess should the worst happen.
Claim Example.
Damage below the value of the excess.
A landlord has a £20,000 flood excess applied to their primary landlord insurance policy and purchases a Flood Excess Insurance policy through their broker.
The property subsequently suffers from a minor flood causing £10,000 worth of material damage. The client is unable to claim under their primary policy as the costs fall below the value of the flood excess.
The client makes a claim directly under their Flood Excess Insurance and subject to the claim being validated by the Loss adjuster, the £10,000 flood damage loss is covered and settled.
Who Can Be Insured?
The Flood Excess Insurance policy will quote on and cater for:
– Private Residential Homes.
– Landlords.
– Commercial Properties.
– Holiday Homes.
How Much Does It Cost?
Example policy price:
Private residential home insurance policy covers property for £750,000 buildings and £50,000 contents, in postcode EX23 9EE, but has a £5,000 flood excess applied as it’s close to a river. No previous claims made.
Flood Excess Insurance Quote:
– £281.93 per annum, covering up to £5,000 worth of flood excess.
(this is an estimated quote looked at in Dec 2020).
The Flood Excess Insurance policy can cater for customers who have a main flood excess up to £100,000.
If you have a large flood excess on an existing insurance policy please contact one of our advisors on 01288 353999 or pop in to our Bude office, we will be pleased to take some brief details and usually come back to you with a quote the same day.
