Welcome news for homes at risk of flooding

From 4 April 2016, people who live in homes at risk of flooding will be able to access affordable flood cover as a result of an agreement between the insurance […]

From 4 April 2016, people who live in homes at risk of flooding will be able to access affordable flood cover as a result of an agreement between the insurance industry and the Government.

“Flood Re” will benefit an estimated 350,000 households across the UK who are at significant flood risk and who would otherwise struggle to access affordable insurance.

The new arrangement allows insurers to pass the flood insurance element of home insurance to Flood Re, which charges reasonably priced premiums based on the home’s council tax band.

Home insurance can be bought in the usual way and it will be up to insurers and insurance brokers to arrange the Flood Re element.

Not everyone will be able to give customers access to Flood Re from day one, but local broker Firth Insurance is one of the first to be able to offer this to customers at risk of significant flooding.

Lucy McKinley senior broker of Firth Insurance said “ Being able to give our customers access to flood cover from Flood Re is good news for all households who are currently being charged higher premiums or unable to obtain any flood insurance at all.”

Flood Re is aimed at residential use only and not all properties will be eligible – check with Firth Insurance on Tel: 01946 821150 or Email: firth.insurance@btconnect.com if you would like more information.

Flooding is the greatest environmental threat the UK faces and the risk is rising. When a home is flooded it can be a very distressing experience for home owners.

The establishment of Flood Re should help ensure people living in homes in affected areas can continue to access affordable flood insurance.