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.
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, 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 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.
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.