Recent years have seen the world as a whole affected by natural disasters: the tsunami in Thailand; Hurricane Katrina; Earthquakes and volcanic eruptions are just a few of the natural disasters that have occurred around the world. However, while there is little chance of a volcanic eruption or tsunami in the UK, Mother Nature still has a few elemental tricks up her sleeve.
The summer of 2007 saw the West Midlands hit by flooding to the extent that houses and buildings were damaged or destroyed, while bridges collapsed under the pressure of flooding, loose earth and debris. Thousands of people saw their houses damaged in those floods; some of which were irreparable. However, for many of these people, they not only suffered the shock of seeing their homes ruined, but also witnessed the ruin of their possessions.
It is a sad fact that up to 40 per cent of all UK homeowners do not have home insurance and despite warning signs of increasingly regular flooding, heavy rain, strong winds and even the occasional Than another earthquake, some homeowners are still looking for financial disaster. by not investing in adequate home insurance. There is a common ideology among the UK population that a disaster of this magnitude will never happen to them and therefore many feel there is no need for home insurance because ‘it will never happen to me’.
There are around 2 million properties, housing around 5 million people, in flood risk areas in England and Wales. Due to their location, these properties are more likely to be affected by flooding from heavy rains and many of these properties may not be adequately covered or covered at all by home insurance.
Given the growing unreliability of the UK weather, home and contents insurance is even more important now than ever before. The strong flavors of the wind can cause untold damage to your home; for example, ripping off roof tiles, dislodging chimneys, or even causing trees to fall on your property. Floods, on the other hand, are more likely to cause damage not only to your home, but to your possessions as well. Flood water can ruin carpeting, furniture, and electrical equipment, but it can also cause structural damage by softening foundations and supporting walls, as well as affecting wooden beams and other wood.
Given the potential damage to both structure and possessions from high winds and flooding, those without home insurance will certainly face expensive repair bills to repair the damage and replace possessions ruined by the elements. However, while those who have invested in homeowners insurance will no doubt be affected by the side effects of inclement weather, at least they will have peace of mind knowing that they won’t be facing the cost of repairs on their own.
When purchasing home insurance, it is essential to know the topography of the area in which you live and to take into account the location of your home. For example, find out if your house is built on or near a floodplain; If you live near the coast, how does the climate affect the surroundings? Factors such as these must be taken into account to ensure that your home and its contents are sufficiently insured. It’s all very well to have home insurance, but if you’re unlucky enough to have flood or storm damage and your policy doesn’t cover this, you’ll end up in the same situation as those who haven’t bothered with home insurance. First of all!
Your home and its contents are likely your most valuable asset; With home insurance so readily available, and relatively cheap, isn’t it time you made sure your home and its contents are properly covered?
