Household insurance in flood risk areas subsidised by £511 annually, says Axa
"According to data from Axa, household insurance for homes in high flood risk regions is being subsidised by £511 each year. The insurer stated this means that homeowners in affected regions are only paying 42% of the true cost of insurance to protect their homes against flooding."
The latest figures were as part of an AXA parliamentary flooding event It was also mentioned that the STATEMENT OF PRINCIPLES TO FLOOD VICTIMS (which promises fair premiums to those affected by flood or those in high risk flood areas) will not be extended when it expires in 2013.
No doubt other insurers will follow this method to justify massive unfair premium increases.
To read the article in full follow this link. http://www.broking.co.uk/insurance-age/news/1929827/household-insurance-flood-risk-subsidised-gbp511-annually-axa
To find out more about TR Youngs Insurance for Home insurance for previously flooded or flood-risk homes on their advertising page at http://www.jml-insurance.co.uk/displayproduct.php?id=259&sec=1