Following negotiations between the Government and the insurance industry, proposals published last year stated that the most valuable properties (categorized as Council Tax Band H) will not qualify for the obligation on insurers to provide flood-risk cover.

For owners who fall into this category, Victoria Davies, a property lawyer at Harbottle & Lewis (020-7667 5000) has these recommendations. ‘Owners could undertake works to reduce the impact of flooding and ask insurers to take such measures into account in their quotations.

‘Flood Risk Reports (which insurers use) are often generated automatically, so check to see whether it takes into account any recent improvements to flood defences. We have experience of a buyer providing more up-to-date information, which allowed the purchase to go ahead where the previous risk profile had put mortgage funding in jeopardy.’

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