Households could have to pay more each year on their home insurance.
It’s being suggested as a way to cover a small number of properties at risk of flooding.
The proposal comes from Insurance Ireland, which says it would help close the flood insurance protection gap, with around one in 20 properties across the country currently unable to obtain flood cover.
This proposed new framework includes measures to make homes more resilient to flooding, grants and a new Flood Performance Certificate similar in principle to the BER system.
It envisages continued investment in flood defence systems and a special fund so households in high-risk areas could be covered when they currently aren’t.
However that all comes at a cost – estimated at around an extra €24 per year on every house insurance policy. .. whether you live in an area prone to flooding or not.
