Tesco: Flood agreement is good news for home insurance

Posted : 15-07-2008

The government's flood insurance agreement with the Association of British Insurers (ABI) has been described as "great news for consumers" by one personal finance website.

Under the agreement, the ABI will provide homeowners with more information on how to obtain flood provision as part of a household insurance policy while the government boosts funding for flood prevention.

According to Tescocompare.com, "getting access to home insurance in flood-prone areas can be incredibly difficult, especially for consumers who cannot afford the high premiums quoted to cover the risk".

Following the agreement, "all eyes will now be on the industry" to observe how much is done to offer adequate and affordable home insurance to people at risk of flooding, the website added.

Financial comparison website fairinvestment.co.uk has reminded homeowners that they should ensure their property and its contents are insured against possible flood damage following the issue of several flood warnings last week by the Environment Agency.

© Adfero Ltd

The views expressed within the article are entirely those of Adfero Ltd and are not those of BDML Connect Ltd