Flood Re says the UK economy could save £740m by implementing simple and affordable property flood resilience measures that would protect more than 3 million homes from flooding. It said 3.1m homes in the UK were exposed to possible flood depths of 60cm, the range at which PFR measures are proven to be effective.

The independent analysis was conducted by JBA in collaboration with Flood Re. It found that typical costs start at £1,500-£3,000 for entry-level measures such as airbrick covers and pumps, compared with residential flood claims which averaged more than £67,000.

Kelly Ostler-Coyle (pictured), director of corporate affairs at Flood Re, said: “This new evidence shows the difference that simple, affordable resilience measures can make, not just to householders, but to the UK’s ability to withstand future floods.

“A £10-£20 airbrick cover can help to stop water entering, yet scaled-up adoption of property-level resilience could save the UK hundreds of millions every year. That’s why we are urging government and industry to treat resilience with the same urgency as insurance and defence investment.”

Dr David Wood, managing director at JBA Risk Management, added: “This study provides clear evidence of the benefits of property flood resilience. By quantifying the savings from only relatively modest interventions, we have demonstrated the value that PFR brings in both reducing the losses from flood and enhancing national flood resilience.”