Say yes to cheaper van, home and car insurance

The recent flooding that has devastated regions in the south of England may offer an opportunity for specialist home insurance companies, it has been claimed.

According to Insurancewide.com, more traditional cover providers may look to up the prices of their premiums in some flood-hit areas.

It added that an insurance firm with deals specially tailored to suit such a scenario may find increased sales in these regions.

"Premiums offered by these specialist insurers are likely to be higher but should ensure that properties at risk of flooding are fully covered in the event of a disaster," said James Harrison, chief executive of the company.

Meanwhile, the British Insurance Brokers' Association has claimed that the way in which the industry has reacted as a result of the disaster has been a success, according to the Financial Times.

Any increase in prices is simply a "knee-jerk reaction" and will not last long, the body added.

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