Affordable Insurance for Homes in Flood Risk areas

The Flood Re Insurance Scheme is now in place, following work between the Government and UK insurers to establish a new way of dealing with and offering flood cover on home insurance through a not-for-profit scheme that’s funded by insurers.

The scheme has been introduced to help households who live in flood risk areas find affordable insurance, and aims to:

• Enable homeowners to find affordable insurance if an eligible property is at risk of flooding
• Help tenants to find affordable contents insurance if they live in an eligible property
• Help local authorities and communities across the UK to be better prepared for flooding
• Create a ‘level playing field’ for UK insurers, which means they can still offer homeowners an affordable range of appropriate policies to those homes at risk of flooding.