Eight in 10 support flood-risk certificates for homes, survey finds

A new survey reveals that eight in 10 people in Ireland back the idea of requiring flood-risk certificates for homes being sold. The findings come from a study commissioned by Allianz, which suggests that such certificates could help buyers understand the flood risks associated with a property before purchasing. The initiative aims to promote awareness and potentially increase homeowner investments in protective measures. The survey highlights growing concerns about flood risk, particularly after recent flooding incidents. According to a Central Bank report from several years ago, one in 20 homes in Ireland faces challenges in obtaining flood insurance, either due to inability to secure coverage or the necessity to pay excessively high premiums. This situation is believed to have worsened following more recent flooding episodes. Nearly half of the Irish respondents to the survey supported the mandatory provision of flood-risk certificates for all properties, while another third endorsed their implementation solely for properties at higher risk of flooding. Additionally, more than seven in 10 participants indicated that homeowners who had experienced flood damage should implement flood protection measures prior to submitting future insurance claims. However, less than half of these individuals agreed that the government should offer financial assistance to facilitate such improvements. The Allianz report emphasizes the importance of ensuring that measures aimed at enhancing flood resilience are both practical and affordable for homeowners. It underscores the need for broader governmental efforts to adequately safeguard properties against flooding risks. The Irish component of this research is part of a larger European study titled Europe under water: The macroeconomic cost of flooding and the economic case for adaptation, which explores the increasing economic toll of flooding across Europe and advocates for increased investment in flood prevention and adaptation strategies. According to the European study, economic losses attributed to flooding across Europe amounted to €88.6 billion between 2020 and 2025, representing a 40 per cent increase compared to the preceding decade. John Ryan, chief underwriting officer at Allianz Ireland and chairman of the Insurance Ireland flood policy taskforce, noted that flooding is significantly impacting families and communities throughout Ireland. He emphasized that for households in affected regions, the consequences extend beyond immediate damage from flood events, influencing the long-term insurability, value, and saleability of homes. Ryan stressed the urgency of addressing the effects of climate change by considering ways to enhance the resilience of homes and communities before flooding occurs. He called for a coordinated effort among homeowners, insurers, the government, local authorities, planners, and lenders, advocating for a stronger emphasis on prevention and adaptation. By reducing the underlying risk, communities can be better protected, helping maintain the insurability, mortgageability, and saleability of homes in the long run.