Households across Nottinghamshire will benefit from fairer, more affordable flood insurance under changes to the Flood Re scheme, with lower costs for many households and new measures to help communities better prepare for future flooding.
The reforms will reduce the cost of contents-only flood insurance to just £25 a year for eligible households in Council Tax Bands A and B from April 2027, making it easier for families to protect the belongings that matter most while helping to ease household costs.
Alongside lower premiums, the reforms will introduce a range of new measures to help homes become more resilient to flooding. These measures will include pilot Flood Performance Certificates, giving homeowners clearer information about flood risk, and enhanced Build Back Better support, allowing eligible households to access up to £10,000 towards flood-resilient repairs after a flood.
James Naish, MP for Rushcliffe, welcomed the changes, saying:
“Flooding has a real impact on families, businesses and communities across Rushcliffe, so making sure people can access affordable insurance is incredibly important.
“My team and I meet regularly with the various flooding agencies to make sure that practical actions are being taken locally, but the Government must also play its part by setting the country up for success when it comes to mitigating the impacts of flooding.
“The Flood Re changes mark an important step forward in becoming more resilient as a nation, and I’ll continue working with local and national partners to make sure Rushcliffe is as ready as possible for future flooding events.”
Floods Minister Emma Hardy MP commented:
“Flooding is truly devastating, turning lives upside down and leaving families facing enormous uncertainty, making access to affordable insurance even more vital.
“Over the past decade, Flood Re has transformed that access. Before, many faced unaffordable premiums or could not secure insurance at all, but thanks to this initiative, access is now universal, even in the highest-risk areas.
“Under these new reforms, this Government is working with Flood Re and industry to further evolve our approach. By reducing premiums and making wider changes, we will ensure that, in its second decade, the scheme is better targeted to support fairness and ensure more low-income households get the support they need.”
© westbridgfordwire.com
Flood Re has helped households at high risk of flooding access affordable insurance since 2016. The latest reforms are designed to ensure the scheme continues to support those who need it most while strengthening incentives to improve flood resilience over the coming years.
