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Author Topic: Scheme offers access to more affordable flood insurance  (Read 884 times)
RBWM Press Release
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« on: August 26, 2016, 01:48:52 PM »

An innovative scheme offering better protection in the event of a flood is available to residents in the borough.

Flood Re, a not-for-profit initiative, aims to make flood insurance more affordable to those most in need and homeowners who may not have been able to meet the cost of coverage can now gain access to policies with cheaper premiums.

Cllr Colin Rayner, representing Horton and Wraysbury ward, said: “Flooding is unpredictable and can have devastating effects.

“But we will always do what we can to help our residents protect themselves and their homes as best they can and the Royal Borough is recommending people find out if they could save money through this project.”

Cllr Jesse Grey, representing Datchet ward, said: “The Flood Re scheme offers a more affordable level of protection to those who live in the most at-risk areas should the worst happen.

“It is a welcome addition to our work to keep them and their homes as safe as possible and I would encourage residents to see whether they could benefit.”

The scheme works by allowing insurance companies to reinsure themselves through Flood Re in the event of significant flooding leading to a large number of claims at once.

By ensuring that firms can cover the cost of pay outs, the savings can be passed on to residents living in the most at-risk areas.

The Royal Borough is encouraging those living in flood-prone streets to see whether they could save money or protect themselves where they otherwise wouldn’t have been able to.

Customers will still deal with insurers directly and the offer does not apply to business properties.

For more information on which providers are signed up to Flood Re see online at: www.floodre.co.uk/industry/customer-info

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