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Cameron slammed for 'helping rich to affordable flood insurance'

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Cameron slammed for 'helping rich to affordable flood insurance'

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Published by Max Salsbury for 24dash.com in Central Government and also in Communities, Environment, Finance

Gloucetsershire floods Gloucetsershire floods

Prime Minister David Cameron is helping the country’s wealthiest homeowners to access the government’s affordable flood insurance scheme while leaving millions of leasehold and private rented homes to sink or swim on the open market, according to the British Property Federation.

Responding to reports that Cameron had personally ordered homes in council tax Band H – the most expensive in England – to be included in the government's Flood Re scheme, the BPF repeated its calls for the scheme to be operated in a way that is fair to all homeowners.

Flood Re caps the amount that households will have to pay for buildings insurance. While some homeowners are included, millions are not, including four million properties in the private rented sector and several million leasehold properties.

The BPF estimates that here are over 840,000 leasehold properties in flood risk areas in the UK, with an estimated 70,000 at high risk.

Ian Fletcher, the BPF's director of policy, said: “It seems incredible that the government would make a concession for one group of well-off homeowners, and yet leave out another less well-off group.

"This is an issue of basic fairness – all home owners should be treated equally in the Flood Re scheme and have access to affordable cover. It should not matter how wealthy they are, or if they live in a house or a flat. So far as flood cover is concerned we do not appear to be ‘all in this together’.”

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