What do you call an Insurance Broker in Wellies?
Answer:- A God Send!
In 2000, the first Statement of Principles on the Provision of Flood Insurance was signed. This statement was an agreement between the Government and Insurers. It stated that insurers would continue to offer adequate and affordable flood cover for their customers as long as the Government developed a strategy for managing flood risk and continued to invest in flood defences.
With the current financial climate, spending has been cut in respect of flood defences, therefore forcing insurers to; reduce cover, apply higher premiums or to increase excesses. Although no insurer has made this move to date, it will only be a matter of time before this will happen.
How can my broker be a God Send?
Well, hopefully we will not have to dig out the Wellies, if you have spoken to us!
Firstly, you need to ask yourself, “am I in a flood area?”
Check our website www.woodwardmarkwell.co.uk and click on the link “Flood Risk” you will be taken to the Environment Agency Flood Risk site. Here you need to enter your postcode and it will tell you how risky your area is.
Secondly, Contact Us!
“I am at Risk”
We can’t stop the flood from coming, but we can stop the flood from harming by:-
- Sending one of our specialists who can give you advice on any improvements that can be made to your property, from the simple such as; putting stock on shelving units to the complex raising your building off the ground (yes it is possible).
- We can make sure that your policy has adequate cover for your exposure to flood.
- We can make sure that your insurer understands your exposure to flood, (this is the benefit of using a local broker with local knowledge) and your premium is correctly calculated for this.
“I am at no Risk”
Not always the case! Although the Environment Agency will tell you how high or low risk you are if you are near the coast or river. However, the UK’s drainage systems are no longer as effective as they were. People are no longer “digging for victory”, they are “digging for parking/conservatory’s/Patio’s”, new housing or commercial developments are springing up all over the place, our drains can only cope with so much water. It would still be recommended to talk to your Insurance Broker.
By making sure you have taken all the precautionary measures with us, you could enjoy reduced premiums and correct cover.
If you are unsure on any of the above or would like to discuss this with us, please do contact David McGowan on 01473 408408 or drop him an email on mcgowand@wmibl.co.uk
