Say yes to cheaper van, home and car insurance

The car insurance industry stands to pay out £2.5 billion in the event of severe flooding, it has been reported.

According to research from uSwitch.com, there are currently 1.5 million vehicles on UK roads that would be seriously compromised in the wake of heavy rainfall.

It added that such a scenario would see car insurance premiums increase by 57 per cent, although those with lesser policies may struggle if they do not extend to cover the damage.

Head of insurance at uSwitch.com Arun Thompson stated that some people are taking chances by having less comprehensive cover.

"If drivers do not take the necessary insurance precautions they could be suffering the financial consequences long after the flood water recedes," he said.

Meanwhile, it has been reported that officials in Gloucestershire - an area particularly badly affected by the flooding - have restored the water supply to 98 per cent of homes in the region.

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