Will Flood Re always be funded the same way, at the same level?

We’ll work closely with insurers and the government. Flood Re will be reviewed once every five years, to make sure the right amount of money is being set aside.

How is Flood Re funded?

Our funding comes from three sources – a Levy, a premium and an excess – all of which are paid by insurers.

Every year, we collect a Levy from insurers offering home insurance in the UK. In total that provides £135m every year for us to use for administering the Scheme and reimbursing insurers for valid claims.

Then, when we accept a flood risk, we also charge the insurer a fixed premium. That amount is tied to your home’s council tax band, not the actual flood risk. This helps to keep the overall price of the policy down. There’s a limited excess of £250 for each policy, as well.


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