The costs of flooding on households

Costs associated with flooding can be categorised as tangible and intangible. The categorisation of the costs of flooding depends on factors, such as the ease of monetising the impact, when the impacts are felt and for how long (short or long term) and whether the impacts are felt directly or indirectly. In order to place the costs of flooding into a wider context, a brief discussion on the economic costs of flooding is presented in this chapter. However, the focus is on the financial costs of flooding as related to individuals and businesses in the United Kingdom. The intangible impacts of flooding can be more costly than the tangible ones, and they are not ordinarily insurable. Further research is needed to address the assessment of the full costs of the impacts of flooding on households, as this will enhance households' understanding of the costs associated with flooding.