Halifax has warned that further heavy rain and flooding may be particularly problematic for those still reeling from the effects of flooding in June and July 2007.
As a result, the firm has issued a series of tips to help people preserve their properties.
If a flood is imminent, the company has advised home insurance customers to place sandbags around the building, keeping water from entering.
Similarly, turning off the mains electricity supply and placing electrical items upstairs will also cut down the risk of damage.
The firm also stated that people should keep the details of their home insurance policy to hand, as they may need to get in touch as soon as the floods hit.
"There are several simple steps homeowners can take before a flood hits that can go a long way towards minimising water damage," said Vicky Emmott, senior manager of underwriting at the company.
Areas of Gloucestershire were badly hit by flooding last month, with damage reports estimating that £50 million in repairs will be needed.
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