Homeowners are being alerted to watch out for potential changes to their property insurance policies as insurers try to claw back the £500m cost of this summer’s wet weather.
According to the company Drain Claim, homeowners hit by the recent floods have already been denied cover or quoted vastly over-inflated prices by insurers. 
But even those unaffected should be cautious of cover changes and potential cost increases when renewing their policies.
The company’s chief executive, David Hayes, points out: “Unscrupulous insurers are tightening their belts when it comes to paying out on claims and making changes to policies, whish could be at the homeowners’ expense. I strongly recommend policyholders compare any new documents they receive with last year’s at the point of renewal, read them thoroughly and don’t be afraid to question changes.
He says: “In addition, many insurers are trying to sidestep the expensive cost of drainage issues by not including cover for them in the standard terms of their home insurance policies. Homeowners have to take out additional accidental damage cover, which costs extra and is not widely promoted by insurers.
“Now is the time to check the terms of your policy to see if you are adequately protected, even if you are lucky enough not to have been affected by the wet weather so far. Better to find out now and amend your policy if necessary rather than have a costly claim turned down in the future.”
The company believes many people do not read their policy documents in full when they take out a new policy or renew an existing one. This often results in the omission of vital elements of property cover, such as those relating to drainage problems.
Homeowners should carry out three simple checks to protect their properties:
1. Take time to read your policy – including the small print.
2. Don’t assume an annual policy renewal is giving you the same cover as last year.
3. Protect yourself against expensive repairs.
More information: www.drain-claim.com