Build Back Better Scheme Launched by Flood Re

The UK has seen some substantial flooding over the past ten years. With the met office reporting that the weather is set to get warmer and wetter due to climate change, the possibility of further flooding is almost inevitable. To counteract this, Flood Re are introducing their Build Back Better Scheme.

April, May and June of 2024 reportedly saw a staggering £144million paid out for home insurance claims related to storms, heavy rain and frozen pipes. It almost marked the 5th quarter in a row where payouts of over £100million were made.

Find out the 7 External Water Situations That Lead to Home Flooding

The Devastation of Flooding

Aspray have seen first-hand the devastation and distress that flooding causes to families and businesses. Many of the claims can take weeks or even months to complete as properties need to be fully dried before reinstatement works can take place. There are also a number of health and safety factors which come into play as flood water could contain bacteria.

If the flooded property is only repaired to the condition it was before the incident, it is likely that damage will occur again in the future. Build Back Better aims to reduce the damage of any future flooding, reducing not only costs but the distress that flooding brings to home and business owners.

Check out our tips on what to do if your home experiences flooding. 

What is Flood Re and the Build Back Better Scheme?

Flood Re is a joint initiative between insurers and the Government. This initiative was first developed as an answer to rising premiums for those in areas of significant flood risk. It’s aim – to make the flood cover element of household insurance more affordable.

Taking the initiative further, Flood Re works with insurers to Build Back Better following a flood at a policyholder’s property. As the reinstatement works are carried out, those with Build Back Better built into their policy can add flood resilience measures up to the value of £10,000.

Reinstatement of a property that has been the victim of a flood can take months, sometimes over a year, to put right. During this time, many policyholders have to over to alternative accommodation while the works are carried out. Build Back Better hopes to significantly reduce this should flooding occur again.

Making properties better prepared for flooding is key to the initiative. If flooding occurs again properties should be better prepared to keep water out. Houses can also install measures that allow water to be cleared quicker should it enter the property, meaning homeowners may only have to leave their homes for days rather than weeks or months. Resilience methods could include, moving light switches to a higher position, fitting flood-resistant doors and replacing flooring with waterproof tiling and grout.

You can find out more about the Build Back Better Scheme on the Flood Re website here.

Future Proofing

Andy Bode, Chief Executive Officer of Flood Re says there are 5.2 million homes and businesses at risk of flooding and the Build Back Better scheme will work towards offering them some protection.

In a 2022 interview, Andy Said: “It is vital to encourage and incentivise adaption 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.”

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