Homeowners warned to choose a policy based on quality not just price

Analysis of market data by Abbey Home Insurance has shown that up to 13,700 insurance claims are made each year as a result of damage to the home caused by flooding. Indeed in the last week alone, Abbey estimates that as many as 1,200 insurance claims could have been made to insurance companies for this reason.

Further research from Abbey Insurance also shows that each year, an average of 257,000 of all home insurance claims are declined as a result of the policyholder not having the appropriate home insurance cover.

The research highlights the continued problem of people looking for the cheapest home insurance policy as opposed to one that would provide the best cover for the customer. Abbey, whose ‘Peace of Mind’ home insurance has been awarded a five star rating by Defaqto for the third year in a row, is warning people to ensure they have the appropriate cover for their homes.

Prasad Shastri, Head of Insurance Marketing at Abbey, said: "If you are expecting flooding, protect as many of your belongings as possible by moving them upstairs. If you can, use sandbags to prevent water coming into the home. Make sure that your house has both contents and buildings cover and that the insurance is adequate and will cover any flood related damage that might occur.

“Buying your home insurance based solely on price may seem like a good idea, but it may also leave you with poor cover and at risk of being underinsured. If this is the case you may end up paying more in the long run for not having enough cover when you come to make a claim.

“Our home insurance has some of the best cover available in the market and has been independently analysed and appraised by leading independent research from Defaqto”.

If you suffer from flood damage your insurance company should be able to advise you if you are able to make a claim. Abbey customers who use its dedicated claims helpline will have access to specialist advisers who will be able to help them with their claim.

Abbey offers unlimited sum insured (Peace of Mind) and specified sum insured (Essentials) home insurance policies that provide cover in the event of damage caused to your home by flooding.

This is the third year running that Abbey has been awarded a five star rating by Defaqto, making it one of only five providers to have ever achieved this honour.

Free advice on how to ensure that you have adequate cover for your house and possessions is available at any branch of Abbey, or for a quotation call 0800 328 6700 or visit abbey.com. Our Peace of Mind product is also available from Independent Financial Advisers.