A government scheme to introduce a flood insurance levy has been criticised as some householders will be forced to pay it - but not covered by it.
Ministers and the insurance industry are proposing a deal to reduce premiums for at-risk properties by sharing the burden among households.
But homes built since 2009 will not be covered by the ‘Flood Re’ scheme in a bid to stop development on flood plains.
Wealthy homeowners paying council tax band H rates will also not be covered - leaving five million homes and four million businesses still not having access to affordable flood insurance.
The Association of British Insurers estimates other homes will see their insurance bills rise by 2.2 per cent - the equivalent of £10.50 a year.
Stephen Lark, director of Lark Insurance said: “The concept of everyone contributing to Flood Re is a good one. But if you pay for it you should be protected by it.”
Ian Fletcher of the British Property Federation added: “By excluding millions of properties from its new flood insurance scheme the government is exposing people’s homes and livelihoods to risk, greater financial burden and insecurity.”