Princes Risborough, United Kingdom (PressExposure) May 23, 2009 -- Flooded property insurance expert Neil Cook of Kay International plc has helped the 36 property owners of a private housing estate near Birmingham which suffered substantial flood damage in the July 2007 Floods.
Although after a battle with the existing insurers they did get an alternate quotation of nearing Â£15,000 which was doubled from the previous year, in addition to which the flood excess was Â£10,000 which was not acceptable to the various mortgage lenders so in truth as well as the anguish faced by the home owners clearing up after the flood damage they were put in a situation whereby the premiums were a struggle and the Flood Excess made the properties Unmortgagable and unsellable.
Neil Cook saved the day by getting an in principle quotation within moments and this was accepted by the Directors of the Residents Association. The premium was in fact just over half with a sensible acceptable flood excess.. With a Guarantee that the cover will transfer to any new buyer is the only broker to offer this guarantee
Please do remember that if your residential or commercial property suffered flood damage, whilst the Government insisted the existing insurers should continue cover after a flood. No one has discussed the full terms to be offered, inevitably, yes cover is provided. But the premiums vastly increases with high flood excesses and they donât normally expect cover to pass to the buyer so in truth you will be left with a worthless property.
Neil Cook said â So do not fear it is still worth asking for an alternate quotation as the insurer who handled the flood claim owes you no loyalty do not be forced into paying a vast premium after a flood claim no matter how large the amount of the claimâ
The same criteria also applies to properties that have suffered subsidence or have been underpinned. Neil Cook can be contacted via dedicated link with Kay International at the jml insurance website http://www.jml-insurance.co.uk