Flood Re – providing better access to affordable home insurance for those in high floodrisk areas

Published: 10th June 2016

Flood Re is a joint Government and insurance industry initiative designed to help provide better access to affordable home insurance for those in high floodrisk areas across the UK.  Flood Re is a not-for-profit scheme that’s funded by insurers and will be in place until 2039.  The scheme will:

  • Enable homeowners to find affordable insurance if an eligible property is at risk of flooding.
  • Help tenants to find affordable contents insurance if you 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.

Over time, it is estimated that Flood Re will benefit over 350,000 households in the UK by providing access to more affordable policies.

Properties will be eligible if they meet all of the following criteria:

  1. The insurance contract must be held in the name of, or on trust for, one or more individuals or by the personal representative of an individual;
  2. Used for residential purposes;
  3. Have an individual premium;
  4. The holder of the policy, or their immediate family, must live in the dwelling for some or all of the time (whether or not with others) or the dwelling must be unoccupied;
  5. Built before 1st January 2009 (if a building is demolished, built pre 1st January 2009, and rebuilt, the new property is still eligible);
  6. Located within the UK comprising England, Wales, Scotland and Northern Ireland (excluding the Isle of Man and the Channel Islands).

For further information on the scheme, please visit: www.floodre.co.uk/homeowner

Or alternatively you can download an information leaflet from the related files panel on this page.

Downloads

Related Files
Flood Re leaflet
161 KB | pdf | 10 Jun 2016

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