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What are the implications of this? Is it just increased premiums for insurance or am I potentially open to other issues?
You will have fewer insurance provider options. But the market is quite big, so you should still be able to get cover. Might be worth doing a fake quote now with a couple of providers.
Of course.
The property I'm looking at is showing is High risk of flooding from surface water on the flood risk map https://flood-warning-information.service.gov.uk/long-term-flood-risk/map?
Quite surprising as it's just a standard London street and I hadn't noticed anything in the past few months even though it's been pissing it down.
What are the implications of this? Is it just increased premiums for insurance or am I potentially open to other issues?