Industry COP26 Search for: Search Twitter Menu How Flood Re works Every insurer that offers home insurance in the UK must pay into the Flood Re Scheme. This Levy raises £180m every year that we use to cover the flood risks in home insurance policies. Flood Re works with insurers behind the scenes. When you buy home insurance cover, your insurer can choose to pass the flood risk element of your policy to us for a fixed price. If you make a valid claim for flooding, your insurer will pay the claim. Later on, we’ll reimburse that insurer from the Flood Re fund. In short, you buy home insurance in the usual way. We cover the flood risk and that helps to keep your premiums down. See How Flood Re works Can Flood Re help you? Flood Re helps householders whose homes are at high risk of flooding. Use the Flood Re Tool to find out if your home qualifies for support. You won’t need to give us personal details. Flood Re Tool Who pays for Flood Re? Most of the costs to run Flood Re are covered by the home insurance industry through a Levy. When we accept a flood risk, we charge the insurer a fixed premium based on your home’s council tax band. We also apply a standard excess of £250 for each policy. In addition to premiums and excesses, we collect an annual Levy from every insurer offering home insurance in the UK. In total that provides £180m every year for us to use, reimbursing insurers for valid claims and running Flood Re. Prices, excesses and terms for policies are set by insurers and not Flood Re. Kingfisher Bringing more choice for flood affected communities Video Player https://www.floodre.co.uk/wp-content/uploads/2018/06/Roxwell.mp4 00:00 02:37 Sue’s Story – a Flood Re Case Study Video Player https://www.floodre.co.uk/wp-content/uploads/2018/06/FloodRe-_-Sedgeberrow-Case-Study.mp4 00:00 01:59 Frequently Asked Questions General How does Flood Re work? Funding Who pays for Flood Re, and how? Eligibility Is your property eligible for Flood Re? Help Can we help you find out more information? © Flood Re 2021. Flood Re Limited is registered in England and Wales (08670444). Flood Re is authorised by the Prudential Regulation Authority and regulated by the Prudential Regulation Authority and Financial Conduct Authority (FRN 706046) Use of cookies Privacy Policy Prevention of Modern Slavery and Human Trafficking policy