Previously flooded homeowners paying 121% more for cover

Homeowners that are living in properties that have previously been flooded are paying 121% more for their cover than their non-flooded counterparts – equivalent to a mark-up of £239.

This is according to research from price comparison website Compare the Market, released today (30 March 2026), which revealed that previously flooded homes cost on average £437 a year to insure, compared to £198 for non-flooded homes.

The research – which looked at quoted premiums in January 2026 – also found strong regional variations. Flood-struck properties in Northern Ireland, for example, saw the most expensive cover at £754 on average.

Policyholders in the east of England, however, saw the lowest impact for historic flooding, paying just £343 a year for cover.

Despite the comparative high costs, cover for higher risk homes has actually dropped over the past year. Indeed, prices stand some 11% lower year-on-year for previously flooded homes and 10% lower for homes located near water.

Increasing importance

Amy Rootham, home insurance expert at Compare the Market, said: “Our research shows that people living in properties that have previously flooded are paying more than double the UK average for their home insurance, with a difference of £239.

“Even living near water can push premiums up ever so slightly, so you should always shop around and compare policies as this can help ensure you’re getting the right level of cover at a price that’s right for you.

“With millions of homes across the UK already at risk – and climate change expected to increase that number significantly in the coming decades – it’s becoming increasingly important for homeowners to understand their property’s flood risk and consider taking steps to improve resilience where possible.”