01-08-2007
Flood risk could increase motor insurance premiums
Drivers in flood-prone areas could see their premiums rise by more than half, it has been claimed.
According to findings published by uSwitch.com, drivers in areas at risk from flooding could experience insurance premium increases of up to 57 per cent.
However, they have warned that the cost of insurance for all drivers could also rise.
"As the events of the last few weeks have proven, flooding is a real and present threat, albeit an unusual one for British summertime," said Aron Thompson, head of insurance at uSwitch.com.
"Motorists, particularly those who live in a designated flood area, must ensure they confirm with their insurer the adequacy of their current level of cover," he added.
Indeed, uSwitch.com also noted that out of every four motorists, one driver is not covered against damage caused by flooding.
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