Over 5 million people in England and Wales live and work in properties that are at risk of flooding from rivers or the sea according research from the Environment agency. Is your property at risk of being flooded?

Before the green grasses of the UK return to mud slicks and swollen rivers burst, we check how you can ensure that your property is fully covered without costing the earth. We also look at what low-cost precautions you can take to protect your home.

Cover your cost of flooding
You could be one of the estimated 200,000 property owners who will struggle to get affordable flood insurance. As flood warnings sweep the UK, the voluntary agreement by insurance providers who offer flood cover is to end in June 2013, there is the fear, and uncertainty of what will replace it.

With the increasing extreme weather conditions, insurance providers may be unwilling to continue to offer policies for flood cover.

James Dalton, the Association of British Insurer’s (ABI) Head of Property Insurance, said, “Insurers, the Government and groups like the National Flood Forum all want to see a sustainable, affordable long term market for flood insurance in the UK.

But we are running out of time to ensure that people in high flood risk areas can continue to get affordable flood insurance when the Statement of Principles expires in June 2013.”

He added, “Insurers are determined to do everything possible to ensure that flood insurance remains as widely available to our flood vulnerable communities. But this cannot be achieved without Government help, as happens in other countries.”

An announcement will be made before the end of summer 2012 as to what scheme will be put in place for insurers to provide flood cover for your property.

For the present, it is important that you check your buildings and contents insurance to see what level if any of flood cover you have. It is wise to check the small print to see what the policy will pay out for in the event of a claim.

To ensure you get a low cost policy, at compareandsave.com, we have hunted down the most competitive UK insurance firms to offer you the best value deals.

Should the unexpected happen and your property is hit by a flood then you must:

• Inform your insurance provider immediately on the 24-hour emergency helpline.
• Keep a record and photographs of flood damage plus any correspondence.
• Contact emergency plumbing immediately to prevent further damage.
• Keep receipts of all work undertaken at your property.
• Contact your insurer to see if alternative accommodation is provided for.
• Provide your insurance firm with contact details if you have to move out of your property.

Protect your property against floods now
How can you protect your property against floods? There are practical steps you could follow to reduce the risk of flooding and damage to your home or possessions.

Ensure you try to stop of slow the flow of floodwater entering your property.

• Fit flood guards to doors and covers over air vents or bricks.
• Remove your valuable possessions to a safer place.
• Lay rubber sheets across your floors.
• Move all electrical wiring and extension sockets up to a higher level.
• Make sure any flood defence purchases you buy have the British standard kite mark.

You can protect your property without outlaying a large sum of cash in flood defences. Practical measures do not need to cost you the earth and you could assess what you can move to a safer place or protect by covering with rubber sheeting.

For further information on what you can do to protect your property against flooding, you can download a free guide on the Environment Agency website at www.environment-agency.gov.uk . Using your postcode, you can also check whether your home is located in a flood risk zone.

	Written by :
	Amanda is the editor for Compareandsave.com.She worked as a journalist at the FT business publication, ‘Financial Adviser’. She also worked for the nationals including The Guardian, The Independent, The Mail on Sunday and Daily Mirror. Alongside working for major UK personal finance sites, she now investigates and reports on new, novel ways to help our readers save money.For press enquiries, please visit our Media Centre page.