North Devon MP says firms are facing ‘grossly high’ insurance premiums
North Devon MP Nick Harvey is urging the government to include SMEs in Flood Re as he battles on behalf of businesses in flood-hit areas.
He said flooding in North Devon meant many small business owners had been refused cover or offered cover with grossly high premiums and excesses, the North Devon Journal reports.
Harvey said: “North Devon’s small businesses simply shouldn’t have to shoulder such unfairly expensive insurance premiums and excesses.
“At the moment, some business owners on Caen Street in Braunton are being quoted excesses of £10,000 if, indeed, they can find insurance cover at all.”
SMEs are excluded from Flood Re, despite protests from Biba and MPs.