Insurance in a Risky World

Order Description Coursework Topic (1500 words) Your friend is thinking of buying a house so that she can live near University Park - on either Lace Street or Montpelier Road, south of the A6005, in Dunkirk, Nottingham (postcodes NG7 2JT – 2JY). But she is worried about the likely cost and availability of buildings insurance to cover the risk of flooding. Write a report for your friend which considers the following issues, taking appropriate account of your friend’s personal, social and financial circumstances: ? How worried should she be by the risk of flooding? ? What factors should be taken into account in deciding whether or not to buy a buildings insurance policy which covers flood risk? ? What factors might affect the availability and likely price of her buildings insurance (including cover for flood risk) in the next three years? Suggested Reading (use these as a starting point!) The Money Advice Service (2016) Flood insurance – getting the right cover, https://www.moneyadviceservice.org.uk/en/articles/flood-insurance-getting-the-right-cover Association of British Insurers (2016) Flooding https://www.abi.org.uk/Insurance-and-savings/Topics-and-issues/Flooding Association of British Insurers (2008) Insurance in the UK: the benefits of pricing risk https://www.abi.org.uk/~/media/Files/Documents/Publications/Public/Migrated/How%20insurance%20works/ABI %20Insurance%20in%20the%20UK_the%20benefits%20of%20pricing%20risk.ashx Environment Agency (2016) Prepare for a flood and get help during and after, https://www.gov.uk/prepare-for-a-flood/find-out-if-youre-at-risk Association of British Insurers (2016) Valuing your home's contents? http://www.abi.org.uk/Information/Consumers/General/494.pdf