Despite recent flooding over the past years, it has been revealed that around four in ten British householders still do not have home insurance the Fair Investment Company announced. Analysers from the firm exposed that 57% of men have the cover compared to 64% of women. Fair Investment advised that home insurance should be taken out soon, due to the rising fear of more floods.

According to statistics, one in ten people live in a property which is currently in serious danger of flooding. This amounts to around £214 billion worth of assets and land. Fair Investment spokesperson Rachael Stiles stated: “It has come as quite a surprise that such a large volume of homeowners and tenants have no home insurance cover at all. Particularly considering the number of floods we have seen in recent years.”

Stiles continued by saying: "With so many homes at risk due to poor flood defences, home insurance really is a necessity that should not be forgone. Brits are having to watch their spending as the credit crunch continues to take its toll, but home contents and building insurance should not be compromised when flooding is such a real possibility in the UK.”

The company looked at various regions, and found that London and Wales were least likely to have taken out home insurance cover.