Floods: Insurance
The question
To ask the Secretary of State for Environment, Food and Rural Affairs, what steps she is taking to help reduce insurance premiums for homes at high risk of flooding.
Answered by Emma Hardy
Flood Re is a joint Government and industry flood reinsurance scheme established specifically to help UK households at high risk of flooding to access affordable insurance through their insurance provider.
In 2024/25, Flood Re provided cover for over 346,000 household policies. 650,000 properties have benefitted since the scheme’s launch. Notably, prior to Flood Re’s inception, the average home insurance quote for a householder with a flood claim was about £4,400. As of December 2024, the average was c. £1,100. Additionally, 99% of householders at high risk of flooding can now obtain quotes from 10 or more insurers.
I met with senior leaders from the insurance industry this month. We discussed how the industry can support their customers both to secure relevant and affordable insurance, and at the point of claim.
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