OXFORD’S MPs have called for Government action to secure affordable flood insurance for city residents.

An agreement between the Government and insurers requires that companies offer flood cover to most homes.

But this does not guarantee cover for the worst-hit areas and does not cap the price of the insurance, which means some homeowners in Oxford have been refused insurance or faced massive premiums.

The pact is being re-negotiated, and Oxford East MP Andrew Smith and Oxford West and Abingdon MP Nicola Blackwood have called on the Government to take on some of the financial risk in return for a cap on the amount insurers can charge for premiums.

Mr Smith said the Government had to act to clear up “uncertainty” about the issue ahead of the June 30 deadline for a new deal.

He said: “Successive governments and councils of all political complexions have allowed development in the flood plain. This makes it all the more appropriate that the Government covers some of the cost of insuring high risk properties.

“Oxford Flood Alliance has done hugely valuable work. On insurance they have shown how identical properties may be treated very differently by insurance companies who limit the amount of risk they take on in any particular area.”

Ms Blackwood said: “I have a lot of constituents who are worried about the fact the deadline of June 30 is fast-approaching.

“We need to put pressure on the Government to negotiate a fair deal and we need to know, if they reach that deadline without an agreement, what will happen in the interim.”

Peter Rawcliffe, of Oxford Flood Alliance, said: “A lot of people are worried and uncertain as to what will happen when the present statement of principles expires.

“A lot of people may find it very difficult selling their houses if no agreement is reached. This really does need sorting. It is no fault of the home owner that their houses flood”

Association of British Insurers spokesman Kelly Ostler-Coyle said: “Talks are still ongoing and constructive.”

Defra spokesman Annie Weston said: ‘We are having constructive talks with the ABI. We want to get an agreement on insurance that provides a lasting solution.”