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The floods that devastated parts of the UK between April and August 2007 were the worst in recent years. With an estimated cost to the home insurance industry of £4 billion, property owners are increasingly paying more for home insurance. Worryingly, experts, such as the Government’s Chief Scientific Adviser, Sir David King, predict that both the number of people in danger from flooding and the costs of damage from floods will significantly rise in the next few years as a result of the effects of climate change.

So, rather than the 2007 floods being exceptional, these kinds of occurrences may start to become more regular and many more of us are likely to be touched by flooding over the next decade. This is, of course, bad news for those who live in areas that are prone to flooding - and the Association of British Insurers calculates that means 5 million of us already (and rising).

In addition, flooding causes so much anguish for those affected, more so if you have not taken out proper or adequate insurance. As the Environment Agency puts it: ‘one of the greatest causes of stress experienced by people who have flooded is lack of adequate home insurance’. Premiums in flood risk areas are presently three times higher than the average and this, unfortunately, leads some people to under-insure to save on costs.

By shopping around, however, value for money home insurance is possible in flood areas - respected sites such as Moneysupermarket or Fish4 Property can compare dozens of insurers and good discounts on home insurance can be had through on-line applications rather than the more traditional approaches. For example both Marks & Spencer and ASDA currently have a 10% discount on their home insurance policies if you apply online.

Being flood aware when talking to an insurance broker can also mean savings for many. So, make sure you do your homework and ask the right questions:

• Ask your insurance broker specifically about flood risk for your postal address and how this might affect your premiums
• Find out what the Environment Agency and your local authority has in place for flood protection, such as local flood defence schemes, and tell your broker about these as these can reduce your premiums
• Risk categories are compiled using a broad spectrum of data, so while your area may be at risk, your particular property may be situated in such a way that it is protected from flood, or the risk of flood damage is minimised (for example, if all the occupied areas of the house are above the flood level)
• Take precautions yourself - for example, consider installing flood boards, buying sandbags and moving your most valuable items away from the flood risk area - and tell your insurer about these.
• Finally, ask the insurer to provide a list of measures you could take that could reduce your premium, such as installing specialist plumbing valves which are designed to prevent the overflow of sewage into homes.