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Flood Re

Introducing Flood Re - a joint industry/Government sponsored scheme to enable flood cover to be affordable for those households at highest risk of flooding.

Increase in flooding

Recent winters have been the wettest on record in England for almost 250 years with nearly 11,000 homes and business properties being flooded in 2013/14.

  • Around one in six or almost 5 million UK homes are now said to be at risk of flooding*

  • Less than 40% of those at significant risk of flooding are aware of the risk**

  • The majority of insurance claims result from surface water flooding, not as a result of being located near a river or the sea.

What do homeowners face if flooded?

Flooding can be devastating to any home. Below are just 2 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 average expected pay out for each flood claim is now said to be £50,000 compared with £31,000 from the winter storms of 2013/14.††

As a result of the increasing 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.

For more information about the benefits of Flood Re please read our FAQs , download the Flood Re leaflet or visit the Flood Re website.

*Environment Agency’s recent ‘flood aware’ campaign
**The National Flood Forum
ABI Responding to Major Floods booklet
ABI figures 11 January 2016

Ecclesiastical Insurance Group plc (EIG) Reg No 1718196. Ecclesiastical Insurance Office plc (EIO) Reg No 24869. Ecclesiastical Life Ltd (ELL) Reg No 243111. Ecclesiastical Financial Advisory Services Ltd (EFAS) Reg No 2046087. Ecclesiastical Underwriting Management Ltd (EUML) Reg No 2368571. E.I.O. Trustees Ltd Reg No 941199. EdenTree Investment Management Ltd (EIM) Reg No 2519319. All companies are registered in England at Beaufort House, Brunswick Road, Gloucester GL1 1JZ. EIO and ELL are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Firm Reference Number 113848 (EIO) and 110318 (ELL). EFAS and EIM are authorised and regulated by the Financial Conduct Authority. Firm Reference Number 126123 (EFAS) and 527473 (EIM). EUML is an appointed representative of EIO who is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Firm Reference Number 402228.