Local broker flood solution for commercial properties as over a third of home insurance flood claims occur between June and August.

14th June 2024

Flooding advice for SMEs

Local broker flood solution for commercial properties as over a third of home insurance flood claims occur between June and August.
 
Latest research from insurer AVIVA using its home and commercial property flood claims data from 2013-2024 reveals that - with the exception of December, most floods occur during July and August with June also proving a peak month for home insurance claims. 
 
What’s more in five out of the last ten years, Aviva received the most flood claims during the summer, with significant spikes in August 2020 and July 2021. Floods during the summer months are often caused by heavy, intense and slow-moving downpours falling onto dry ground following hot, dry weather. 
 
FloodRe, the national scheme for providing affordable flood insurance to homeowners excludes businesses and landlords. However, FloodFlash provides a rapid-payout flood insurance product. This flood insurance is available for all businesses and landlords across the UK.  FloodFlash uses advanced risk-modeling and mobile-connected sensors to remove the costs, time and uncertainty associated with traditional flood insurance.
 
Jamie Harvey, a Director of IFM Insurance Brokers said: “This latest research once again highlights that the risks to small businesses because of flooding can be severe and unpredictable.  Sadly, this situation is unlikely to improve due to urbanisation, increased frequency of extreme weather and climate change. FloodFlash is therefore a great solution for businesses providing peace of mind and certainty in the event of being a victim of flooding,’

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