DEFRA's £5m support for flood risk homes

Commenting on DEFRA's £5m support for flood risk homes, Peter Gerrard, head of insurance research at price comparison site moneysupermarket.com, said: "Any help for those most at risk of a flooding catastrophe is helpful, however, it does beg the question whether a £5m pledge is going far enough when insurers received around 180,000 claims related to last summer's floods.

"Homeowners must ensure they have adequate insurance to safeguard their home against flooding and it is crucial to check their home and contents are covered. If faced with a flooding situation the last thing they'd want is to find they are underinsured or worst - not covered at all.

"Even if a claim for flooding has been made; all hope is not lost. While only a handful of insurers are likely to still provide cover, premiums remain incredibly competitive, highlighting the benefits of shopping around for cover.

"I urge the Government to provide sufficient funding for those most affected; without this we may see an altogether gloomier picture and any remaining insurers may begin to hike premiums."