Flood Re launches scheme to cover costs of flood resilience and resistance measures

Government-backed reinsurer Flood Re has launched a scheme to help flood victims repair their homes with resilience and resistance measures.

The scheme, called Build Back Better, enables people, through participating insurers, to claim up to £10,000 for resilience over and above the cost of work to repair flood damage.

NFU Mutual, Aviva, Ageas, Lloyds Banking Group and LV= General Insurance are the first home insurers to join the Build Back Better scheme during 2022 and early 2023. 

From this month, the participating home insurers will begin offering customers access to reimbursement costs of up to £10,000, over and above work to repair damage and loss caused by a flood.

Examples of flood resilience measures include raising electrical sockets and white goods away from floor level, installing self-closing air bricks and flood resistant doors, and replacing flooring with waterproof tiling and grout.

Reimbursement costs can also include carrying out surveys to understand flood risk and potential mitigation.

Andy Bord, chief executive officer at Flood Re, said that worsening weather conditions in the UK mean “there is no time to waste” and that collective action is necessary to protect 5.2 million homes and businesses at risk of flooding.

He continued: “It is vital we encourage and incentivise adaptation among homeowners.”

“The insurance industry has an opportunity to show its innovation and responsiveness to consumer need and to make real, tangible change. But to do so, we must throw the traditional principles of insurance to one side. This means thinking of future resilience and building back better after a flood, rather than simply returning a property to how it was before.”

“It’s hugely encouraging that five insurers have already partnered with us to offer Build Back Better provisions to customers, and I am encouraged that, together with insurers soon to join, we will truly make a difference.” 

Owen Morris, managing director of personal lines at Aviva, commented: “We’re pleased to support Flood Re’s Build Back Better scheme which we hope will encourage customers to make their homes more resilient to future flooding.”

“Aviva has, for many years, offered flood resilience measures to our customers following a flood claim and through our Building Future Communities campaigning, we have called for more incentives, awareness and advice to improve take up, so we welcome this development.”

“While flood defence schemes remain the best way to protect whole communities, we believe flood mitigation measures have a vital role to play in reducing the impact that floods can have on families, homes and livelihoods. Taking even simple steps, such as replacing traditional materials with waterproof equivalents, can make a difference and crucially, they can reduce the time it takes to dry out a property, helping customers to return to their homes much quicker.” 

Martin Milliner, claims director at LV= General Insurance, added: “We’re extremely pleased to be part of the Flood Re Build Back Better scheme. Flooding is an extremely traumatic event which has a devasting impact on a person’s life, both physically and mentally. It’s therefore crucial that we look into how homes can become more resilient to reduce the impact of future flooding and help customers return to their homes more quickly after a flood.”

Mark Dugdale