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Good news if you need insurance and are at risk of flooding

Flood RE provides affordable insurance to home owners at risk of flooding. Before Flood RE launched in 2016, home owners who had been flooded or who lived in high flood risk areas were often left without insurance cover.  Sometimes, insurance companies refused to insure their property or they quoted premiums that were astronomical.  Many homeowners were left without any insurance.

Since its launch,  Flood RE has helped many homeowners obtain affordable insurance to protect homes at risk of flooding.

The good news is that from January 2019, Flood RE are reducing their premiums.  Homeowners will find it more affordable to protect homes situated in flood risk areas. Premiums for building insurance will reduce by 12.5% and contents insurance by 33%.  Read more

By UKFDA Latest News • • 0 Comments

Flood Re – making a difference to people at risk of flooding

Flood Re was set up to help people who live in flood risk areas to get affordable flood insurance for their homes.

Previously, homeowners struggled to get insurance to protect them if their homes had previously been flooded.  If they could get a quotation, there wasn’t a choice, the premiums were high and the excess charged often exorbitant.

Flood Re set out to change that!  In the first year it has written policies for 127,326 homeowners.  “Before the introduction of Flood Re, only 9% of householders who had made prior flood claims could get quotes from two or more insurers, with none being able to get quotes from five or more,” notes Flood Re on its website. “Now, 95% of those households that had previously made flood claims have access to two or more quotes and 84% can get quotes from five or more insurance providers.”

If you are one of the 4.4 million people whoe home is at risk of flooding, you should check if your insurance provider has signed up to Flood Re.

To discover more about the impact of Flood Re Read more