Some Laxey homeowners still facing insurance issues

Calls for government to do more to help Glen Road residents

Some homeowners in Laxey say they are still experiencing issues with home insurance, despite reports of the problem 'receding'. 

Since the flood in October 2019, many have had to negotiate excesses of up to £5,000 or are not provided with cover at all. 

Earlier this week, Garff MHK Andrew Smith, who owns a home on Glen Road, told Manx Radio he had been finding it easier to secure cover.

But Jill Kimber lives on the same street, and says she's not had the same experience:

Richard Rose also lives on Glen Road. He says he's had to make big compromises to get cover:

Kestrel Insurance is an insurance broker on the Isle of Man.

When we asked them what some of the issues are, they provided us with this statement:

"There are still some challenges when it comes to providing home insurance in parts of Laxey, mainly because of the area's history with flooding and how close some properties are to the river. The flood defences that were put in place after the 2019 floods have made a big difference and really help us when we’re having conversations with insurers who are open to it. They’ve given us something solid to point to, but even so, some providers remain cautious. Some will decline cover purely based on proximity to water, while others focus more on past claims, so it’s not always consistent.

"That said, we’re lucky to have two insurers who are willing to look at properties in the affected areas on a case-by-case basis. This is largely down to the fact that we take the time to present the current risk properly, rather than relying on old data or assumptions. At the moment, we’re not aware of any other local brokers or insurers offering cover specifically for these areas, but if there are, it would be great if they made themselves known so residents have more options.

"Looking ahead, one thing that could really help is a safety net similar to the Flood Re levy in the UK. It is a pool of money supported by an annual fee paid by UK household insurers to fund the Flood Re scheme, which helps make flood insurance affordable for homeowners in high-risk areas. It works by allowing insurers to pass on the flood risk of individual policies to Flood Re, which in turn helps keep premiums and excesses down. A similar scheme here in the Isle of Man could make a real difference for property owners, and not just for those in Laxey, but also for other areas like those around the Sulby River that can often face similar challenges."

Manx Radio has asked government for a comment, and it is working on a response.