Flood RE

16 November 2022

Flood RE is a joint industry/Government sponsored scheme to enable flood cover to be affordable for those households at the highest risk of flooding.

What do homeowners face if flooded?

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.

  • Disruption
    If your home is badly damaged it may take a year or more for it to be restored and become habitable again; mainly due to the time it takes for the property to be dried out after being flooded.
  • Expense
    The cost of repairs combined with alternative accommodation for you and your family can be costly.

As a result of the increased risk of flood, a not-for-profit initiative has been developed by the insurance industry with the Government called Flood Re. 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 to get and more expensive, this could have serious repercussions for the property market as a whole.

Excess

For any flood claims made on a policy where Flood RE is in force, the only excess that you will pay will be £250, this is not on top of the standard policy excess.

What to do if we are unable to help

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.

Visit the flood insurance directory

Flood RE FAQs

Recent winters have shown that flood continues to be an issue for the UK. Flood Re has been set up to ensure that insurance against floods continues to be available and affordable.
 
We have worked with many customers over the years both to support them and restore their homes after the devastating effects of being flooded.  We are supporting the Flood Re scheme to represent the homeowners we insure who are at risk of flooding. 
All insurers pay a ‘levy’ into a central fund held by Flood Re.
 
In addition, insurers can choose to place (or cede) the flood risk part of any home insurance policy with Flood Re. For these policies the premium for the flood element will be based on the property’s Council Tax band and the flood excess will be £250.
 
The levies and the flood premiums collected by Flood Re will then be used to pay for flood claims on policies sent to them by the insurers.
This makes no difference to the way you buy your home insurance and any claims will continue to be handled by us as before.
 
If your home is to be included in the Flood Re scheme, we will contact you ahead of your renewal date with details of your amended premium including the excess of £250 for flood.
Your premium could be affected if your property is identified by us as being at risk of flooding.
We have invested in flood mapping software tools that enable us to look at properties on an individual basis and provide bespoke underwriting.
No, insurers do not all use the same data sources. The information each insurer uses is commercially sensitive and you may find that insurers will differ in their approach.
For more information about how Flood Re works and the benefits visit www.floodre.co.uk.
 
You will also be able to find information about flood prevention and protection on this site.