Flood Re is a single peril reinsurer, covering only flood risk.

Flood Re is a not-for-profit organisation which allows insurers to pass the flood part of home insurance policies bought by customers to Flood Re.

In order to pay for the claims that will arise from policies passed to Flood Re there is a central fund which will comprise of two elements:

Premiums on flood risks passed to Flood Re by insurers

The premiums charged by Flood Re to insurers are capped based on Council Tax bands, starting at £210 per policy per annum in Bands A and B for a combined policy, rising to £1200 for a Band H home. The breakdown of premium according to Council Tax band is shown below.

Council Tax Band A,B C D E F G H
Buildings policy 132 148 168 199 260 334 800
Contents policy 78 98 108 131 148 206 400
Combined policy 210 246 276 330 408 540 1200


Insurers set the final pricing to their customers and the premium rates shown above are for the flood element of a policy and do not include pricing for risks such as fire or theft which will be additional.


The annual levy is paid by all insurers authorised to write home insurance in the UK and is set at a total amount of £180 million per year for the first 5 years of Flood Re’s operations. The total amount is divided between insurers and charged based on each insurer’s market share.