Flood Re helps Yorkshire residents access more affordable home insurance
In light of the recent flooding across Yorkshire, Flood Re, the not-for-profit, joint initiative between government and the insurance industry, is today launching a local campaign.
The campaign seeks to raise awareness that – thanks to the Scheme – those living in high-flood risk areas can continue to get affordable home insurance.
Flood Re is encouraging residents in and around Yorkshire to shop around to ensure they are getting the right cover for their homes. Homeowners can use price comparison sites, contact insurers directly or speak to a broker to secure the best home insurance deal for them.
Since Flood Re was launched in 2016, the availability and affordability of home insurance for householders at risk of flooding has improved significantly. Independent research has shown that 93% of householders whose property has flooded previously are able to receive quotes from five or more insurers – compared to 0% before the introduction of the Scheme – and four out of five householders with previous flood claims have been able to find quotes that are more than 50% cheaper.
Flood Re is always looking to identify ways to better protect flood risk communities, and is asking that those who have experienced flooding, or who live in flood risk areas, to complete a quick survey.
Dermot Kehoe, Director of Communications and Transition of Flood Re, commented: “Communities across Yorkshire have been devastated by the emotional and financial impact of the recent flooding in the area.
“Our aim is to ensure those living in areas that are at risk of flooding – such as those in Yorkshire – are still able to access affordable home insurance in the future. Since our launch, Flood Re has helped more than a quarter of a million homes.
“Householders should shop around to ensure they are getting the right home insurance deal for them.”