Flood Re: the impact of the scheme on surveyors and valuers
The catastrophic impact that flooding can have on property owners has been seen all over the news for the past decade. In particular, 2012 saw some of the wettest weather for a century and left thousands of households struggling to find insurance cover for their properties.
Flood Re has been established to allow domestic properties at the highest risk of flooding to benefit from affordable insurance cover. The flood element of household insurance policies will be placed with Flood Re and priced according to Council Tax bands – from £210 for Band A homes to £1,200 for Band H homes.