Numerous people have “given up trying to buy in the north'” of the island due to struggling to get homes insured.
A source told Manx.News that they have had had to pull out of buying two houses due to not being able to get insurance.
These houses in question are currently insured, however the source said that insurances companies will not take on new business for anything on the flood map.
Takes no Account of Real Life
They said: “In fact one broker told us that none of their insurers would cover flood risk on the Isle of Man at all.”
They claim that the “map is a blight to sellers and buyers” and say it “takes no account of real life water flow in many places”.
Following the constant battles with insurance companies, they “have now given up trying to buy in the North”.
Saying: “It is costly and disheartening as so much of the area is covered in blue or purple on the map.”
Can’t Buy Due to Insurance
A number of homes in the Isle of Man are struggling to get insurance following a sale due to being in “high risk flood zones”.
The Department for Infrastructure (DoI) says that its map cannot be used for the purposes of insurance or commercial decision making.
However, multiple sources have told Manx.News that it has affected their ability to resell their homes.
Several individuals have been caught out in the north of the island and have been told that homes in certain estates are unable to obtain insurance.
You can view the DOI’s flood map here.
We have approached the DoI for comment.
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