Massive spike in insurance for homes with flood record

Homeowners living in properties that have previously been flooded are paying 121% more for insurance than the UK average.

This is according to new research from Compare the Market.

People living in properties that have previously flooded pay £437 each year on average for their home insurance premiums.

That’s compared with the average UK home insurance premium of £198, marking a £239 difference.

Owners of properties located near water also pay £12 more than the average for their home premium, at £210.

For homes that have previously flooded, the highest premiums in January 2026 were found in Northern Ireland (£754), followed by Greater London (£669), the South East (£507), the East Midlands (£473), and East Anglia (£446).

Similarly, for homes that are located near water, the highest premiums in January 2026 were seen in Northern Ireland (£557), Greater London (£314), the South East (£242), East Anglia (£239), and Scotland (£219).

Approximately 6.3m homes and businesses in England are at risk of flooding, with estimations expecting this figure to rise to 8m by 2050 due to climate change.

In Scotland, an estimated 320,000 residential properties are at medium risk of flooding, with this number anticipated to increase to 522,000 by 2100.

Meanwhile, approximately 85,500 homes and commercial properties are at risk in Northern Ireland and nearly 300,000 residential properties in Wales.

However, insurance costs have been falling for previously flooded homes and for those located near water, in line with decreasing prices seen in the UK more broadly.

The average cost of insuring a home that has previously flooded has dropped by 11% year-on-year in January 2026, from £495 in January 2025, and by 10% for homes located near water, from £235 last year.

Table Average insurance premiums for homes located near water and that have previously been flooded compared to the UK average in January 2026.