Households at risk from flooding could be left without insurance cover unless the UK government increases spending on flood defences, the Association of British Insurers has warned.

The government has to inject an additional �145m a year to make sure some households do not become uninsurable altogether, the ABI said.

And other households could see their premiums rise so much that they would not be able to afford insurance.

"Government investment in flood defences is vital. We now need to see a steep change in levels of spending," said ABI director general Mary Francis.

About 1.7m homes and 130,000 commercial properties are at risk of flooding, according to the UK government.

Investment

The increased investment in England and Wales's flood defence systems must be sustained for several years, the ABI said in a report entitled "Flooding: A partnership approach to protecting people".

"The return on this capital expenditure will represent real value for money as the risk of physical damage and human suffering is reduced," Ms Francis said.

"As we have seen in recent weeks, floods can strike quickly in Britain nowadays. Insurers are doing their best to cope with difficult circumstances and have worked hard with policyholders."

Last year's insurance bill for flooding was �1.3bn.

Cover retained

The industry blamed inadequate investment in protecting properties, poor flood defence maintenance and more frequent heavy rain

In January, the UK insurance industry vowed to provide existing homes and small businesses with flood cover for another two years while flood defences were upgraded and serviced.

ABI also said the government should ban new buildings in areas where flooding may strike.