Flood Re is not a home insurer itself – instead it works behind the scenes with existing insurance companies. As a re-insurance scheme it helps insurers offer more affordable flood insurance to those in areas at risk of flooding. This means people can shop around more easily to find policies with more affordable premiums and excesses.
The scheme helps households at the highest risk of flooding and provides information about taking action to reduce flood risk.
Customers will not deal directly with Flood Re. In the case of a customer making a claim because of a flood they will have their claim managed and repair works completed by their insurer in the usual way, but the insurer will then be able to recover those costs from Flood Re.