Due to climate change flooding is becoming a major issue in the United Kingdom. The impacts of flooding can be devastating in terms of the cost of repairs, replacement of damaged property and loss of business. It can also cause loss of life and hidden costs such a loss in property value. In addition the nuisance and stress caused by a flood event and clean up operations; use of temporary accommodation and the general disruption can be just as significant. In recent years there have been a number of major flood events which have caused considerable damage to homes and businesses resulting, unfortunately, in some loss of life. Similar events will also certainly occur again and maybe more frequently. Green Asap believes that it is important to be aware of the possibility that any given property could be affected by such a flood event. The Environment Agency states that flood damage currently costs £1 billion with this set to increase to £25 billion by 2080.
Increased insurance premiums
Figures released by the Association of British Insurers (ABI) estimate that up to 2 million homes in the UK are at risk from coastal or inland flooding. That is 10 percent of the total UK housing stock. The ABI also estimated that around 400,000 homes are at a very high risk of flooding. In England and Wales alone 5 million people live in areas that could be affected by flooding.
Uninsurable property
The Association of British Insurers estimate that following the extensive flooding across the UK in 2007 there is up 500,000 properties which are uninsurable. The inability to insurea property can wipe 80 % off its market value when compared to similar problems without a flood insurance issue.
Understand a properties flood risk
Flooding can result from a wide range of events and processes but there is a misconception that that managing flood risk is all about dealing with flooding caused by rivers but a significant proportion of flood related insurance claims withing the United Kingdom are from non-fluvial flooding. That is from sources other than rivers.
It is important therefore that all these issues are addressed and this is why Green ASAP Limited is using the best available data in the market place to advise you as to the risk to your home from flooding. We will also help you find the right solutions to protect your home and what to do if in the unfortunate event your home is flooded. While we do not attempt to predict the likelihood of a specific flood event we do think it is important that should you be acquiring an interest in a property you are aware if a given property is situated within an area which could flood either from the sea or from rivers. The green light report will tell you whether a property is located in an area that could be affected by a flood event and whether appropriate action needs to be taken.
Insurance premiums are rising all the time because the cost of repairing properties that are damaged by flooding is rising significantly. If your home cannot be insured in the future then it may not be easy to sell and therefore you need to get advice now as to what the risks actually are. This is why the data in our reports is at the cutting edge of knowledge.
More information on the different types of flooding
The impetus of finding out whether a location is liable to flood is down to you. Both the Welsh Assembly and Central Government expect you to make sensible decisions about where you live or invest.
