Flood re - flood re-insurance scheme

As many as one in six UK properties are at risk of flooding — that’s up to 2.8 million households that could be affected. While home insurance is beneficial for any property, it’s even more important if you live in a high-risk area to ensure you have adequate insurance cover to protect your home and belongings. However, for those in homes at high risk of flooding, it can be very difficult to get affordable cover, forcing some residents to go without cover when they need it most. To combat the issue of expensive flood insurance, the Flood Re scheme was launched in April 2016.

Flood re is a government initiative setup with insurance companies to provide a ‘flood re-insurance scheme’ that helps homeowners in need of insurance in flood risk areas. The schemes aims are to

• 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

Flood Re is expected be in place for 25 years, and it’s estimated around 350,000 people in the UK will make use of the Flood Re scheme in that time.

You can find more information on how the scheme works by click on on this link and you can find out how it can help you and to see if you qualify by clicking this link