More than a third (38%) of all Britons are without home insurance, according to finance website, Fairinvestment.co.uk - in spite the recent serious bout of flooding which will affect 10% of all British households. Of those who are covered by home insurance, householders in London and Wales are least likely to be covered against floods.  But ironically, Wales experiences the highest average rainfall each year at 3,000 millilitres, compared to an average of 2,000 in England.

The research also revealed that men are less likely to take out a home insurance policy than women. The statistics show that on average just 57% of men are protected by home insurance compared to 64% of women.

Spokesperson for Fairinvestment, Rachael Stiles, said: "It has come as quite a surprise that such a large volume of home owners and tenants have no home insurance cover at all. Particularly considering the number of floods we have seen in recent years.

"With so many homes at risk due to poor flood defences, home insurance really is a necessity that should not be forgone. Brits are having to watch their spending as the credit crunch continues to take its toll, but home contents and building insurance should not be compromised when flooding is such a real possibility in the UK."

For those who have already made a flood claim, excesses could now be in the region of £30,000, after insurers are still nursing wounds from their £3billion pay-out to victims of last year's floods. However, it is because the Government's flood defence measures are so poor that insurers are so reluctant to provide cover to those who have already been forced to make a claim, according to Stiles.

She added: "Although it is down to insurance companies to cover homes in the event of a flood, the Government should also bear some of the responsibility. Flood defences need improving, and until the Government does more to prevent floods from damaging people's homes, insurers are unlikely to bring down premiums and excesses, especially for those whose homes have already been affected."

According to separate statistics from Homecheck, property, land and assets worth £214billion are currently at risk of flooding throughout England and Wales.

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