Survey on leasehold flood insurance

The British Insurance Brokers’ Association has launched a survey for leasehold flood insurance to find out how leaseholders have been affected by the winter deluge.

At present, leasehold properties are excluded from the government’s Flood Re insurance scheme and BIBA wants to quantify the evidence.

The exclusion also applies to small businesses, homes built after 2009 and council tax Band H homes.

“We’ve been asked by Defra if we can supply evidence that there is a problem in obtaining cover for these groups,” says BIBA. “The potential scale of any problem may be masked.”

LKP argued strongly that leasehold properties should be included in a leasehold flood insurance scheme. The government-funded Leasehold Advisory Service did not take part in any of the discussions with key stakeholders in this sector.

LKP provided dramatically revised figures for the scale of leasehold in England and Wales as a result of participating in the Flood Re talks in Westminster: we estimate that there are five million leasehold properties and the government is still – albeit more hesitatingly – quoting the figure of three million.

There was discussion on precisely this topic in the House of Lords last week.

LKP urges all leaseholders who have experience of leasehold flood insurance to complete the following survey:

https://www.surveymonkey.com/s/impactfloodre