Tag Archives: House Insurance

Over £1 Billion Per Annum Saved By UK Inland Flood Defences

Some interesting research has been carried out relating to the amount that is estimated is being saved in flood damage here in the UK due to the inland flood defences that have been put in place over the years.  The research was carried out by Risk Management Solutions (RMS) on behalf of Flood Re.

The research took into account many thousands of weather event simulations so an awful lot of work has obviously gone into producing the information. The research took into account the situation both without and with flood defences.

You may be surprised at just how much flood damage could be caused inland such as due to rivers breaking their banks. Apparently, it is estimated that with flood defences in place the cost of water damage could amount to around £0.7 billion. However, without flood defences in-situ it is estimated that the cost of damage caused by water could be in the region of £1.8 billion.

That is a huge potential saving of around £1.1 billion as a result of having inland flood defences in place.

An example of the benefit of having flood defences in place can be found in Bewdley, Worcestershire. This small, picturesque Georgian town has the River Severn running through it. For many years, on occasions, the river burst its banks and a significant number of homes and businesses running along the side of the river were flooded causing a great deal of flood damage to buildings and their contents as well as much heartache for the owners of those properties. That was until a few years ago when flood barrier defences were strategically put in place along the side of the river. Since then, there has not been a significant problem with flooding in that location.

Owners of properties within flood risk areas of the UK are likely to be charged more for their buildings cover so it may be a good idea to shop around. In that respect, why not get in touch with us here at AIB Insurance on 02380 268 351 and discuss your requirements with an experienced member of our team who will do all that he or she can to help source suitable, competitive, quality home insurance to cover both your buildings and any contents.

Safeguarding Your Home Against Damage Caused By Bad Weather

Storm DamageHere in the UK, we are sometimes faced with some stormy weather with high winds and flooding being a feature. Apparently, according to the Association of British Insurers (ABI), property insurance companies pay out on average £8.1 million pounds every day to meet claims for damage to homes and replace contents.

Below are some of the things that property owners could do to possibly reduce the level of damage that storms can cause to properties and their contents: –

• It would be a good idea to monitor the weather forecast so that, hopefully, you are not caught out by the arrival of a storm.

• If it is being forecast that strong winds are on their way then you should check that no items are left loosely in your garden or elsewhere outside that could be blown around thus potentially causing damage to those items, your property, pets and people. Wherever possible, either make sure that the loose items are securely tied down or bring them inside say into your garage and/or garden shed.

• Make sure that there do not appear to be any loose roof tiles.

• Loose branches can be blown away in a storm causing damage so you could get a tree surgeon to remove them.

• Make sure that fencing and the posts surrounding your garden are secure.Weather Damage

• If you are in an area that is susceptible to flooding then you may wish to have floodgates fitted or buy some sandbags to protect your home against the ingress of water. You may also wish to move items of furniture upstairs to protect them against water damage.

• In the event of you having to temporarily move upstairs due to flooding, you may wish to ensure that there is a supply of bottled water and food upstairs that can be consumed until you are rescued. You may also wish to have things like medicines, blankets and a torch to hand.

• You may wish to drive your car onto higher ground to avoid it being damaged by floodwater if it is safe to take this course of action. If there is no threat of flooding but there are strong winds forecast you may wish to put the car in the garage if this is an option available to you.

• Have available contact details for the likes of the gas and electric suppliers, water authority, local authority and buildings and contents insurance company.

• Check that your drains and guttering are not blocked.

• Make sure that your water tanks and pipes are insulated to provide protection in freezing weather.

We trust that you find the above of benefit.

Should you wish to receive a competitive quotation for buildings and/or contents cover then why not get in touch with us here at AIB Insurance on 02380 268 351 and a knowledgeable member of our team will be pleased to assist without any obligation on your part.

Which Location In The UK Sells Homes The Quickest?

Houses In DartfordWhen you put your property on the market, you are probably going to want to find a buyer as quickly as possible. So, how long does it take on average to sell a home? According to Rightmove, it takes an average of 79 days to sell a home in the UK through them? Back in January 2015 it was taking an average of 87 days.

Well, not if you live in Dartford it doesn’t!

On average it only takes 16 days to sell a home in Dartford. That is a considerable reduction when compared with January last year when it was taking an average of 49 days to sell a home. Furthermore, property prices in Dartford have gone up by 17% in the 12 months to January 2016.

Some of the reasons why Dartford is so popular could be that it is in the London commuter belt and houses are being placed on the market for less than an average of £300,000 whereas in London, you would expect to pay an average of more than twice that figure. There are an increasing number of people that did live in London that have chosen to move out to the likes of Dartford. In addition, there are more properties being sold for investment purposes. The area is also well known for its good schooling.

Below we have listed the top 10 locations outside London where property sells the quickest along with the average number of days it takes: –

1. Dartford, Kent – 16 days
House In Dartford2. Grays, Essex – 26 days
3. Benfleet, Essex – 28 days
4. Crawley, West Sussex – 30 days
5. Leigh-On-Sea, Essex – 30 days
6. Stevenage, Hertfordshire – 31 days
7. Bristol – 31 days
8. Watford, Hertfordshire – 32 days
9. Rochester, Kent – 33 days
10. Reading, Berkshire – 33 days

As you can see all the above locations, with the exception of Bristol, are easily commutable to London.

The place where properties take the longest time to sell is Darlington in County Durham where it takes an average of 132 days. Second slowest is St Helens on Merseyside where it takes 128 days and third slowest is Wakefield in West Yorkshire where it takes an average of 120 days.

The location that has seen the biggest drop in the time taken to sell a property when comparing January 2016 with January 2015 is Clacton-on-Sea in Essex. In January of this year it took an average of 50 days to sell a property whereas 12 months previously it was taking 95 days – a difference of 45 days.

Incidentally, if you are buying a property then you will no doubt require buildings and contents insurance. We have an extensive panel of insurers so why not get in touch with us here at AIB Insurance on 02380 268 351 and we will discuss your requirements and arrange a no-obligation quotation for your consideration.