Industry News from Yes Insurance

Recent flooding across various UK regions has resulted in a boom in home insurance applications, up by 300 per cent, according to figures from moneysupermarket.com.

The floods, which caused significant damage to a number of homes across the country has prompted thousands of homeowners to apply for insurance for the first time, ahead of a similar potential emergency in the future.

Applications in Sheffield, Doncaster, Hull, the West Midlands and parts of Scotland increased by 300 per cent in June in comparison with the month previous, reflecting new concern over the threat of flooding.

Richard Mason of moneysupermarket.com describes this as "no surprise".

"Clearly, homeowners who narrowly escaped the floods this time have realised that without any insurance cover they could be left footing bills for tens of thousands of pounds in the future," he said.

According to the Environment Agency somewhere in the region of 2.3 million UK homes are built on flood plains.

© Adfero Ltd