Flood Re

FloodRe’s purpose is to promote the availability and affordability of flood insurance. FloodRe is directly accountable to Parliament and is funded from a levy on insurance companies.

We estimate that, over time, some 350,000 homes may benefit as a result, from both more affordable insurance premiums and from reduced policy excesses. The way people buy their insurance policy and make claims will remain unchanged.

FloodRe’s scope is private household insurance policies only, where it was accepted by the insurance industry and government that there was an emerging market failure to deliver affordable available flood insurance. FloodRe will not cover businesses, which are excluded from scope as no market failure had been established.  It will also not cover properties built after 1st January 2009 so that FloodRe does not incentivise further house building in areas of high flood risk.

FloodRe will be in place for 25 years and is designed to:

  • Enable flood cover to be affordable for those households at highest risk of flooding
  • Increase availability and choice of insurers for customers
  • Allow time for the Government, local authorities, insurers and communities to become better prepared for flooding
  • Create a ‘level playing field’ for new entrants and existing insurers in the UK home insurance market.

More information about FloodRe is also available here or through their website homepage.

You can also download leaflets on FloodRe for England, Scotland, Northern Ireland and Wales.

See the link below for further explanation on what Flood Re does and how it may benefit you!


Additional Resources:

What is Flood Re


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