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.
Home Insurance
Another homeowner in the north of the island wasn’t aware their home was classed as a “high flood risk” until their sale was nearly completed.
The prospective buyer informed them they were unable to get insurance for the property, and even though the property has never flooded, or been close to flooding, insurance companies still wouldn’t insure it.
Although the current home owner has insurance, it is making it near impossible to sell their home.
High Risk Flood Zone
Homeowners in Laxey are still facing issue with trying to get insurance after the flood there in October 2019.
You can view the DOI’s flood map here.
If you, or anyone you know has been affected by this please contact us at newsdesk@manx.news
3 Comments