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Homeowners in Flood Risk Areas Denied Insurance

By Glen Tomb Subscribe to RSS | July 20th 2012 | Views:
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According to the Local Government Association had to say that the home owners in which in flood-risk areas might not get any kind of an insurance cover next year, that is 2013. As per the Local Government Association, the house holders are now being denied any kind of flood insurance because there has been a delay by the government as well as insurers which be coming in to a new deal which will be having affordable cover.

Some discussions also took place between the Association of British Insurers that is ABI, the government as well as the lenders which led to an agreement as far as the statement of principles in the year 2008 for the market of insurance is concerned, under which a major part of the customers who are living in the areas that are prone to the trouble of flooding have been able to be continuing into obtaining the cover from their insurance.

Insurers have given an agreement to continue to provide cover for flooding to almost all the homes, as well as the government also undertook to invest more into improving the condition of the flood defense. Nevertheless, the insurers have not given a guarantee in order offer cover where no improvements in the fields of flood defense as are planned, while the ABI has for long maintained that the statement of principles is only just a temporary measure. It was also made clear that they will not be renewing beyond the month of June of the year 2013. Apply with 12 month loans @ http://www.12monthloanspayday.co.uk/ & get quick cash aid and erase all your fiscal problems.

since for this month to come even less than a year to come for the existing deal to remain, the councils have found out that some of the house holders who have tried of renewing their insurance in the past few weeks have not get an approval for the cover or had been quoted prices which were hugely inflated.

The LGA, which is an representative of more than 350 councils in England as well as Wales, has also warned that the longer government and also the industry is going to stall on a fresh deal in this regard, the more of household people it is quite possible that will be getting a rejections for a cover as well as will be exposed to the risk of losing their homes because of the natural disaster which is known as flood. All this is what is happening is not a fair thing with the people.

Glen Tomb - About Author:
Glenn Tomb is a financial adviser and he writes for 12 month loans, 12 month cash loans, 12 month loans for bad credit. For More visit http://www.12monthloanspayday.co.uk/

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