What is Flood Re?
Flood Re is a flood risk insurance scheme, designed to make flood cover more affordable for UK homeowners.
As of 4th April 2016, the Flood Re scheme will enable insurers to take on more customers at risk of flooding because the consequences of large claims will be shared between insurers.
This happens behind the scenes, so customers can compare and purchase home insurance as they would normally.
How do you work out the flood risk to my property?
We use industry tools and sources of data to arrive at a premium, alongside claims and underwriting experience. External data sources include (but are not limited to) the Environment Agency, British Geological Survey Data and Ordnance Survey historical flood mapping. We also use flood modelling data as this data provides flood risk data at an individual property level rather, than postcode level.
Where can I get more information on flood risk?
There are several online resources which you can visit to get more information on flood risk in your area, namely:
- Flood Free Homes wants all UK houses to be free of risk by 2025
- National Flood Forum provides support and advice to communities or individuals that have been flooded
- Know Your Flood Risk works to raise awareness of the risk of flooding from all sources, not just a visible water course such as rivers and seas