Flood Re

Flood Re is a UK-wide insurance scheme designed to make flood insurance more affordable for homeowners, especially those in high-risk areas. It operates by providing a shared fund that insurers can access to cover flood-related claims, reducing the risk for individual companies. This allows insurers to offer competitive policies at standard rates instead of inflated prices or refusing coverage altogether. Funded through a small levy on all household insurance policies, Flood Re aims to balance risk, encourage property protection measures, and ensure that more homeowners can access affordable flood insurance.