Experts say premiums are likely to increase further after latest flooding while insurers say it’s too early to judge how much deluge will cost the industry
Homeowners in the flood-stricken areas of Cumbria could see their already high insurance bills increase further following Storm Desmond.
Under an agreement between the government and insurers, homeowners are supposed to be able to buy policies that include cover for flood damage from their existing provider. However, there is no cap on costs, and previously residents in the area have reported being quoted prices of £2,000 a year, and offered policies with excesses of £20,000, or being turned down entirely.
Related: Storm Desmond: army aids rescue effort as communities struggle after floods
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