Thousands of homeowners and residents struggle to get buildings and contents insurance which creates anxiety, stress and frustration. The National Flood Forum has been working with government and the insurance industry for several years to come up with a solution to this problem. It is hoped that Flood Re will be the game changer that enables more people to take out affordable insurance to protect their homes and provide peace of mind. Introduced in April 2016, it is expected that up to 350,000 households will benefit from this new scheme, which is a collaboration between the insurance industry and the government.
Flood Re should make it easier for people in flood-risk areas to get affordable household insurance.
For years, the National Flood Forum has been championing the cause of thousands of people who are frustrated by not being able to get insurance, or at least not at an affordable price. We hope Flood Re will be a positive step towards making the industry more competitive so that customers can shop around to get the best deal at the right premium for their needs.