Axa: homeowners in flood risk areas are underpaying for insurance by 58%
Household insurance for homes in high flood risk regions is being subsidised by £511 each year, according to Axa. This means that homeowners in affected regions are only paying 42% of the true cost of insurance to protect their homes against flooding.
The latest data was published as part of an Axa Parliamentary Flooding event in Westminster focusing on the UK's flood defence strategy and funding debate.
The insurance subsidy issue arises through
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