Living in a flood-risk area can be an extremely stressful experience. Your home is at much greater risk of damage than almost anyone else’s. That’s what Flood Insurance is for. Flood Insurance accepts that your house is a higher risk than most, but covers you anyway. However, the higher risk has usually come at a higher cost.

Lowering Costs

This could be about to change. A scheme which helps make flood insurance cover more widely available is taking steps to also make it cheaper. Flood Re is a scheme which launched in 2016, that focuses on re-insurance. It has announced that from 2019 onwards, it will reduce the premiums it charges insurers for reinsurance.

This should lower the costs that are passed onto customers by insurance companies. Flood Re wants to make flood insurance more affordable and achievable for normal people who are in flood risk areas. It is estimated that a great many people who live in flood risk zones do not invest in flood insurance simply because of the price.


Flood Re expect that its decreases of between 12.5% and 33% should result in a reduction of between £44 and £112 for consumers. The chief executive of Flood Re said ‘I am delighted today to announce that we will help to make flood cover even more affordable for those most at-risk of flooding’.

‘If some households in flood-prone parts of the country have previously not taken out home insurance for cost reasons, we hope that this move may encourage them to obtain cover.’

Flood Risk Peace of Mind

Alternative Insurance Brokers offer Home Insurance to people in areas with a history of flooding. As is standard practice, we ask that you gather as much information about the property and its flood history as possible. This helps us determine the likely risk to your property, and do our part to keeping your price as low as possible. Contact us today for a quote that works for you.