Flood Re insurance: your concerns answered

In our summer of 2013 the us govenment and insurance industry found a contract about flood-prone homes, to allow people who own such homes so that you can buy affordable insurance. Underneath a scheme called Flood Re, annual premiums will probably be capped and payouts for flood damage arrive at a central pool of money.

How should i determine whether my home is affected?

The scheme covers 350,000 households that this Environment Agency says are in risky of flooding. You need to use its interactive map to find out if your house is one particular.

What accomplishes this mean for homeowners on flood plains?

Unless your property is in council tax band H than the flood element of your buildings insurance is going to be capped from 2015. The Association of British Insurance says the cap is going to be