Friday, October 04 12:18:30
The floods this week in certain parts of the country could spark a rise in claims which may have a knock effect on premiums, according to brokers.
While Ireland's wet weather conditions have made it very difficult for home owners in certain areas to get home insurance, the Irish Brokers Association say that have heard reports of some brokers having some success in assisting consumers in placing risks in certain areas that have been classified as being prone to flooding.
However, the representative body have warned that claims could rise as a result of this week's forecasted flooding in some parts of the country, and this could have a knock on effect on premiums in the medium term - though that will dependent on whether Ireland is hit with further weather related catastrophes during the winter.
According to Brian McNelis, Director of General Services at the Irish Brokers Association, "The weather warnings for this week will hopefully not be as bad as the flooding experienced in previous years around the country, however, we still feel it important to first address what steps those affected need to take to ensure they deal with the clean-up and imminent claim correctly".
The Irish Brokers Association says that if your home is affected the absolute first port of call is to contact your insurance broker or company as soon as possible. If you have a broker, they will advise you on the steps needed to minimise your financial loss.