Are You Eligible for the Flood Re Scheme?
- The property is currently covered by an insurance contract which is held in the name of, (or on trust for) one or more individuals or by the personal representative of an individual.
- The policy holder, or their immediate family, must live in the property for some or all of the time (this can be with other people) or the property must be unoccupied.
- The property must have a domestic Council Tax Band A to H (or equivalent).
- The property must be used for private, residential purposes.
- The property must be a single residential unit or a building comprising of two or three residential units.
- The property must be insured on an individual basis or have an individual premium, it cannot be part of a policy which includes a number of other properties as well.
- The property must be built before 1st January 2009 (if a home is built before 1stJanuary 2009 but then demolished and rebuilt, the new home will however still be eligible).
- The property must be located within the UK specifically being: England, Wales, Scotland and Northern Ireland (excluding the Isle of Man and the Channel Islands)
There are however some exceptions to the types of property that can be included which we have listed below (A-I). These properties must also meet all of the 8 criteria to be eligible. The property types are:
- Bed and breakfasts paying Council Tax and insured under a home insurance contract.
- Farmhouses dwellings and cottages. Where farmhouse dwellings are included in as part of a commercial lines insurance policy, as long as the insurer can split out the dwelling element (and that this meets the criteria 1-8 (inclusive) above), the dwelling part of the risk can be ceded to Flood Re.
- Holiday homes/Second Homes.
- Properties occupied by home workers.
- Individual leaseholders protecting their own property/flat.
- Leasehold blocks if they contain 3 units or fewer and the freeholder(s) lives in one of the units to be insured.
- Single unit leasehold properties where the leaseholder insures the structure of the property.
- Residential "buy to let" properties.
- Static Caravans/homes if in personal ownership
Flood Re sadly excludes businesses and commercial properties and there is no equivalent scheme in place to assist the thousands of businesses located in high flood risk areas.