How are the premiums set for ceded policies to the scheme?
The Premiums charged by Flood Re to insurers vary by the Council Tax band of the property. Flood claims on the ceded policy come with a fixed excess of £250 per claim. The table below provides details of the 2023/24 inward reinsurance premiums for properties ceded to the Flood Re scheme:
| England | A | B | C | D | E | F | G | H |
| Scotland | A | B | C | D | E | F | G | H |
| Wales | A B | C | D | E | F | G | H | I |
| Northern Ireland | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
| Buildings Policy | 120 | 120 | 135 | 153 | 181 | 238 | 306 | 839 |
| Contents Policy | 53 | 53 | 68 | 75 | 92 | 103 | 144 | 419 |
| Combined Policy | 173 | 173 | 203 | 228 | 273 | 341 | 450 | 1,258 |
*Premiums are Net
The table below provides details of the 2024/25 inward reinsurance premiums for properties ceded to the Flood Re scheme:
| England | A | B | C | D | E | F | G | H |
| Scotland | A | B | C | D | E | F | G | H |
| Wales | A B | C | D | E | F | G | H | I |
| Northern Ireland | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
| Buildings Policy | 126 | 126 | 141 | 160 | 190 | 249 | 321 | 880 |
| Contents Policy | 55 | 55 | 71 | 78 | 96 | 108 | 151 | 439 |
| Combined Policy | 181 | 181 | 212 | 238 | 286 | 357 | 472 | 1,319 |
*Premiums are Net
Popular FAQs
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What is Build Back Better?
‘Build Back Better’ (BBB) is the process of putting in place measures that will make a home more resistant or resilient to flooding in the future.
Flood Re’s proposition will enable the reimbursement (up to a limit of £10,000) of costs associated with Building Back Better as part of a flood claim, over and above work to repair damage and loss caused by a flood.
This can include carrying out surveys to understand the flood risk and potential mitigation, the addition of flood resistance measures such as flood doors, and flood resilience measures such as the replacement of damaged parts of the home with more flood resilient materials such as hard floors.
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Will I receive the full £10K?
Not necessarily – each Insurer sets their own limit. Check with your Insurer to see how much you might be entitled to, and check if any other criteria also apply.
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How does it benefit consumers?
BBB can mean less upheaval and stress, and lower costs if a household floods after resilience measures have been installed. It can mean not having to move out of your property at all after a flood, or moving back in much more quickly.
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How does it work in practice?
Insurers handle BBB claims in different ways. However, in general when someone floods who has an insurance policy that offers BBB, the insurer will work with their customer to assess if additional resilience measures would benefit their home should they be flooded again.
Householders will have the choice whether to accept the extra resilience measures.
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Does it apply to all policies?
No – each insurer has a different initiative. Insurers will clearly communicate which policies could benefit from BBB. However, Flood Re has agreed with insurers that for policies meeting the same criteria, regardless of whether they are a Flood Re policy, will be treated in the same way.
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My Insurer offers BBB but I wasn’t eligible on my recent claim – why?
Each Insurer chooses different criteria which need to be met before BBB applies. This might mean that a certain claim threshold needs to be met, BBB might only be offered on a second flood or BBB only applies after a policy renews. Check with your Insurer for more details.