Flood RE is a joint industry/Government scheme that enables flood cover to be affordable for those homes that have a high risk of flood.
Climate change is resulting in more extreme weather events and flooding can be devastating to any home.
Below are just two examples of the effects of flooding.
As a result of the increased risk of flood, Flood Re which is a not-for-profit initiative has been developed by the insurance industry and the Government. Its purpose is to ensure UK homes at the highest risk of flooding can get affordable flood cover.
Having property insurance with flood cover can be crucial in getting a mortgage, so if flood insurance became harder and more expensive to get, this could have serious repercussions for the property market as a whole.
Any flood claims made on a policy where Flood RE is in force have a £250 excess as standard, this is not on top of the standard policy excess.
Learn more about our home insurance policies.
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If we are unable to assist you with flood cover, the British Association of Insurance Brokers (BIBA) have a flood insurance directory which includes a list of specialist providers.
The firms listed are authorised and regulated by the Financial Conduct Authority.