MANCHESTER, UNITED KINGDOM?(Marketwire -02/19/12)- Swinton , the UK?s leading high street retailer of house insurance is warning homeowners who live in flood prone areas that they may be left with an uninsurable property when an agreement between the insurance industry and The Government that guarantees cover comes to an end.
Under the terms of the agreement, insurers promise to cover high-risk homes as long as The Government administers investment into flood defences.
The current agreement is due to end in 2013; however, many homeowners living in the most high risk areas have been given some relief ? the Government has announced that construction is to begin on 60 flood and costal defence schemes next year.
This means that over 145,000 homes in high risk flood areas will be better protected and reduce the risk of high payouts that insurance companies would have to make in the event of a flood.
Steve Chelton, Claims Manager at Swinton said, ?It is essential that all those involved in the agreement reach a solution sooner rather than later. Up to 200,000 of homes could be left without any home insurance cover if a new deal isn?t struck between insurers and The Government.?
For more information please contact Mairead Rodden or Lucy Gordon at SKV Communications on 0161 838 7770 or email firstname.surname@skvcommunications.co.uk .
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