Nearly 50% unwilling to pay a flood premium

Nearly half of Irish people say they are not willing to pay a premium on their insurance to support the owners of houses that cannot get home insurance.

An AA Home Insurance survey of 6,970 respondents found that 19.66% were ‘somewhat unwilling’, while 29.41% were ‘not at all willing’ to pay a higher insurance premium in order to support the flood victims of “legacy” houses that will not be insured, even after flood defence works are completed.

The AA said it is estimated that some 8,000 to 15,000 homes will not be able to get insurance, regardless of the protections provided by any flood defence works.