Flooding: Victims back call for cap on insurance premiums | Cheap ...

RESIDENTS whose homes were devastated by the Cornish floods of 2010 ? and then dealt a second blow by a crippling rise in home insurance ? have backed calls for a planned cap on premiums.

Homeowners across the St Austell, Lostwithiel and Fowey areas were among the worst affected in November 2010, as flash floods swept through their properties and washed away treasured possessions.

1. ?

As the clean-up operation began some residents were left with a double heartache as insurance premiums soared ? some by more than 300 per cent.

But the Liberal Democrats have announced their intentions this week to help those on low incomes by floating the idea of a cap on insurance costs for those living in flood risk areas.

Lib Dem MP for St Austell and Fowey, Steve Gilbert, raised the issue at the national Flood Forum Conference in London on Wednesday last week.

The conference heard how an agreement exists between the Government and the Association of British Insurers (ABI) that commits insurers to continue to offer insurance to existing customers where they are at significant risk ? only if there are plans in place to reduce that risk within five years. however, this will come to an end next year, meaning homes at risk of flooding could face further hikes in their insurance premiums.

?What is clear is that while insurance will continue to be widely available post-2013, it will not be affordable for many on lower incomes,? mr Gilbert said during his speech.

He continued to say that the Liberal Democrats support the idea that industry and government agree a premium cap for flood insurance and that homes facing premiums above that would be put into a risk pool which would then be subsidised, either by government, consumers or the insurance industry.

After the conference mr Gilbert added: ?During the Cornish floods of November 2010, I saw at first-hand the devastating impact that flooding can have.?

Sonia and mark Rogers? home in Tregrehan was flooded in November 2010, to the extent that their car and skip were floating in the driveway.

Mrs Rogers said: ?We would greatly benefit (from a premium cap) because we have two residential properties ? one is a holiday annexe. we pay two separate insurances and both went up.

?Our home insurance went up by three and a half times the premium and the holiday let went up by a third. That?s quite a massive hike.

?What?s more, we weren?t aware of the risk because there are people in the village who can?t remember it flooding to that extent for 80/90 years.

?The cost of living is so expensive at the moment and if somebody with a voice, like mr Gilbert, can make a little difference such as this it will benefit thousands of people.?

Dave Robson, Mayor of Lostwithiel, also backed the idea: ?If this could come off it would certainly assist everybody down here because most people are on low incomes anyway in this part of the world and in these austere times any bit of help is gratefully received.?

June Anderson, chairman of the town council in St Blazey, said: ?I think it?s a brilliant idea because it?s getting mad that people can?t afford to insure their homes or are getting insurance without flood cover.?

Flooding: Victims back call for cap on insurance premiums

Source: http://www.cheapcarinsurance2.com/flooding-victims-back-call-for-cap-on-insurance-premiums/

obama sings al green heidi klum and seal ohare airport etta james songs east west shrine game haywire underworld awakening