High value properties and those constructed after 2009 may not be eligible for flood insurance after 2015

8 Dec

An article in the Sunday Times Money section (behind paywall so no web address) says that once current flood insurance arrangements run out in summer 2015, the plan is that homes costing more than £500,000 (band H council tax properties) and those built after 2009 will not be eligible for flood insurance.  It says that those over half a million pounds are considered to be expensive enough for owners to bear their own costs and “post-2009 homes are being excluded to avoid encouraging construction in flood-risk areas”.  All other homes will be covered by a levy of £10.50 on all home insurance premiums even if the home is not subject to flood risk as is currently the arrangement.

Where does that leave potential developers and their potential buyers in Feniton?

Must have some purchasers who bought post-2009 homes quaking in their shoes and may make others who are thinking of buying in flood-prone areas think again about whether it will be a sensible purchase.

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