The largest home insurance firm Aviva's chief executive has called for "flood ratings" for homes to be introduced, some people within the sector view this as another attempt to take more money from buy-to-let landlords.

Mark Wilson the Chief Executive believes that the scheme would help warn buy-to-landlords, tenants and prospective home buyers of possible risk to the properties.

 

Following the virtual flooding of most of the South West insurers are expecting an onslaught of claims.

Wilson has also called on the government to ban any proposed house building on flood plains, interestingly enough flood experts at Reading University have stated that 6,000 homes have been flooded whereas the exceptionally bad weather that occurred five years ago saw 50,000 homes damaged.

Insurers have recently signed the pledge called Flood Re to ensure that they will offer reasonable (affordable) home insurance for high risk areas, they are demanding that the government must do more, which of course will look after their profits.

“The risk of flooding is a critical factor home buyers and tenants have to take into account,” said Wilson.

“Better quality and more accessible data should be made available, especially to buyers. Planners should also halt building on defenceless flood plains."

They are hoping that it might be possible for a flood rating  to be introduced and as with an energy performance certificate, landlords would be charged for certification in the region of £100.

Wilson conclude by saying: “Around 200,000 homes have been built in the past decade and many face a significant flood risk. It’s time builders and the government put a stop to this.”

 

Other home insurers are backing the call for such a scheme to be implemented.