Are there any home insurers who will offer flood insurance in a "flood zone"? Required for mortgage

Eoin_Eamon

TL;DR Are there any independent or specialty home insurers who will offer flood insurance on a home in an area is deemed a "flood risk"? We're willing to pay a higher premium to account for the risk, but so far I can't find an agent who will go near it.

Does anyone have experience with this or advice?

Found a great home in Dublin in an area where we currently rent and know very well. It's near a river, and while the property itself has never flooded, it is deemed to be in a "flood zone" because of its proximity to the river and flooding that occured in the area about 20 years ago.

The council is currently undertaking upstream works to mitigate the risk of flooding so we aren't overly concerned about this.

I've contacted several insurance brokers but they all seem to be agents selling for Allianz, Zurich, or AIG. As far as I can tell, these companies all seem to be working off the same maps and have a blanket ban on offering flood insurance to any homes in this area.

I know that buying a house in a "flood zone" is a risky proposition, but I've looked over the studies and plans for the upstream mitigation works and I'm satisified that the risk will be reasonably low once compete.

DubCount

I think this is going to be a difficult one. I reckon your best bet would be to try to get an independent insurance broker. They might have contacts in the relevant insurers to explain the situation. I cant see any specialty insurer wanting to take on what they will deem is a known risk.

ucsie

We bought in a similar area and we found the same issue. We just asked the previous owners who they were insured with and contacted the same. We got full coverage with them. It was Arachas, I don't know if they cover all areas.

Eoin_Eamon

Amazing! Thank you so much! Had never heard of that outfit before. It's at the very least another lead to try!

finnyob

We had a the same issue when buying, first insurer, think it was Aviva, said flood risk therefore no, tried Liberty, insured no bother.

DownByTheGarden

House we used to live in was the same. Noone would insure new buyer. We told them who we were insured with (FBD). They called that company and they got insured.