Recent years has seen the world as a whole affected by natural disasters: the tsunami in Thailand; Hurricane Katrina; earthquakes and volcanic eruptions are just a few of the natural disasters to have struck around the world. However, although in the UK there is little chance of a volcanic eruption or tsunami, Mother Nature still has a few elemental tricks up her sleeve.

The summer of 2007 saw the West Midlands struck by floods to the extent that houses and buildings were damaged or destroyed, while bridges collapsed under the strain of floodwater, loose earth and rubble. Thousands of people saw their homes damaged in those floods; some of which were irreparable. However, for many of these people, they didn't only suffer the shock of seeing their homes ruined, but also bore witness to the ruination of their possessions as well.

It's a sad fact that as many as 40 per cent of all homeowners in the UK do not have home insurance, and despite the warning signs of increasingly regular flooding, heavy rainfall, high winds and even the odd earthquake, some homeowners still court financial disaster by failing to invest in adequate home insurance. There is a common ideology among the UK population that disaster will never befall them to such a huge extent, and thus many feel that there is no need for home insurance as it 'will never happen to me'.

There are around 2 million properties, housing around 5 million people, in flood risk areas across England and Wales. Due to their location, these properties are more likely to be affected by floods brought on by heavy rainfall and many of these properties are likely to be either inadequately covered or not covered at all by home insurance.

Given the increased unreliability of the UK weather, home and contents insurance is even more important now than before. Strong gusts of wind can cause untold damage to your home; for example, tearing off roofing slates, dislodging chimney stacks, or even causing trees to fall into your property. Floods, on the other hand, are more likely to cause damage not only to your home, but also to your possessions. Flood water can ruin carpets, furnishings and electrical equipment, but it can also cause structural damage by softening foundations and supporting walls, as well as affecting wooden beams and other timbers.

Given the potential damage to both structure and possessions by high winds and flooding, those without home insurance would certainly face some hefty repair bills putting the damage right and replacing those possessions ruined by the elements. However, while those who have invested in home insurance will undoubtedly be inconvenienced by the after-effects of inclement weather, they will at least have the comfort of knowing they won't face the cost of repairs on their own.

When shopping for home insurance, it is essential to know the topography of area you live in and that you take into account the location of your home. For example, find out whether your home has been built in - or near - a flood plain; if you live near the coast, how does the weather affect the surrounding area? Factors such as these should be taken into consideration to ensure your home and contents are sufficiently insured. It's all very well having home insurance, but if you are unfortunate enough to fall foul to floods or storm damage and your policy doesn't cover this, then you will end up in the same situation as those who haven't bothered with home insurance in the first place!

Your home and contents are likely to be your most valuable asset; with home insurance so readily available - and relatively cheap - isn't it about time you made sure that your home and contents are properly covered?