RESIDENTS facing huge insurance premiums because of the area’s flood risk status may have a reprieve if the Boston Barrier is built.
According to the Environment Agency Boston currently tops the list of areas at the greatest danger of flooding, meaning housing insurance policies are hiked to deal with the risk.
But if the barrier is built, the chance of flooding is set to reduce six-fold, from a one in 50 to a one in 300 chance, pushing Boston into a much lower risk category and, hopefully, reducing premiums significantly.
At a public meeting about the government-funded barrier last week, Mark Robinson, coastal advisor with the Environment Agency, said that the barrier project could have an impact on insurance for residents.
He added: “I think we can write to the insurance agencies because this is a national strategy which is protecting a significant number of properties.
“That has got to be good for insurance.”
Steve Lumb, from Boston Borough Council, added: “The barrier will improve things.”