What is Flood Re ?

Video transcript


If you're one of the many thousands of UK homeowners who've been affected by flooding or whose property might be at risk from flooding in the future, then you probably already know how difficult it can be to find affordable home insurance.  The good news is that the insurance industry has been working with the government to find a way of making the cost of both contents and buildings insurance policies for flood risk homes more affordable. 

The solution they've come up with is called 'Flood Re'.  Flood Re requires all companies who provide home insurance in the UK to put money into a central pot.  Insurers can then place their policies with the Flood Re scheme which means that claims for flood damage to homes are paid for out of the Flood Re pot.  This means that individual insurance companies are protected from the costs of multiple claims by spreading the risk across the industry as a whole.  The benefit to homeowners is that the insurance companies are now able to offer flood insurance at a more affordable price and the excess on claims should be significantly reduced. 

So if you're a UK homeowner, or a freeholder in a property comprised of less than four homes then you can benefit from Flood Re.  If you’re a leaseholder then your contents policy can be included in Flood Re.  Flood Re began in April 2016. Now all you need to do is shop around in the normal way for the insurance cover which best suits you. 

You can buy your policy from the insurance company you choose, and if you have to make a claim you'll do so directly with that company.  So really, it’s business as usual but with Flood Re in the background making sure that flood insurance is affordable, even for the most vulnerable properties.  To find out more visit floodre.co.uk.

Contact us

Get in contact with the right person to answer your queries, or just talk to us about how we can help you and your family.

Preparing your home before a storm

With a little preparation you could help to reduce the potential for damage - and save yourself some money and stress in the process.

Aviva Drive

Safer drivers scoring 7.1 or more save an average of £170, a saving that can be achieved by 52% of them.

Back to top