Most insurance companies calculate a property’s flood risk based on its postcode rather than the home’s exact location or the actual likelihood of it flooding. This is an unfortunate fact for owners of houses situated in or close to a flood zone, but which in reality run little risk of being flooded.
The average postcode is comprised of around 2,500 properties, yet it only takes one of these properties to be considered a flood risk for every building within the same postal code to be classified by insurers as being at risk of flooding. A lot of homes are therefore unjustly branded as a risk, which results in homeowners being unfairly subject to higher insurance premiums, as most insurance companies are not particularly keen to underwrite properties individually.
At Network Trade Insurance we take the opposite view of things; we believe that everyone has the right to accessible, affordable insurance, and we make it our business to help anyone having difficulties getting covered. If you own a home that falls under a flood risk postal area, is structurally atypical in some way, or even has a history of flooding, get in touch with NTI. We assess each case individually and take into account the precise characteristics and history of your home to find you a policy that is tailor-made to your specific requirements.
Call us today, or drop us an email; a member of our team will be ready to give you expert advice based on your individual case and the level of cover you are seeking.