In the UK, the most common natural disasters are typically flooding and severe storms, which can cause significant damage to properties. Thankfully, home insurance is there to help cover the cost of restoring your home and belongings to the way they were before there was damage.
Floods are the most common form of natural disasters in the UK, causing damage worth £5 billion in 2015, with average insurance claims topping £50,000.
Although you can help to avoid flood damage, it’s always wise to check you have the right type of insurance policy to suit your needs.
Most buildings and contents insurance policies will protect your home and contents for damage caused by:
While flooding has been in the news a lot in recent years, other natural disasters are unusual - but not unheard of - in the UK. In 2008, for example, a moderately powerful earthquake in Lincolnshire caused property damage across the South and East of England at an estimated cost of around £10-15 million.
We also occasionally see hurricane-like storm conditions that can cause coastal flooding due to temporary high sea levels.
What if I live in a high-risk flood area?
If you do live in a high flood-risk area, you may need to choose specialist flood insurance. If you’re in one of the highest-risk areas, you may be eligible for a policy under the Flood Re scheme, which was launched to help keep insurance affordable by those most affected by flooding.