About 42,000 homes in Wales face insurance troubles when a UK government agreement ends next year, claims the Association of British Insurers (ABI).
It has mapped out flood-prone areas, and the Vale of Clwyd trimmings the list in Wales, with more than 7,300.
The ABI warns a pact ensuring coat for high-risk homes ends in June 2013.
The Welsh government said it was spending £100m on flood and coastal resistance. It said it was working to ensure the insurance continued.
The ABI said the pact obliged insurers to provide cover for high-risk properties while the UK government - the Welsh government in Wales - continues to improve flood resistance.
It wants the government to share the risk for the most susceptible properties, claiming that the current deal distorts the market.
The ABI says it has analyzed official data to highlight the areas with the most homes at significant flood risk, which are defined as a superior than one in 75 chance of flood in any given year.
"As a result of the work undertaken, this has resulted in reduced flood risk to almost 19,000 homes, which effectively takes these areas out of the ABI's list of most susceptible communities."
Continuous investment was "essential" so that the risk of flooding is managed for people and communities in Wales, he added.
The National Flood Forum, which provides support for people who live with the risk of floods, said it was frequently contacted by people to help them with their household insurance troubles.
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