Flood Re, a new scheme designed jointly by government and insurers that intends to provide people living in flood-prone areas with lower insurance premiums, will come into effect on 4 April 2016

The introduction of Flood Re is intended to ensure homeowners whose properties are at high flood risk can obtain affordable flood insurance with cover at a set price. However, certain categories of properties will be excluded from the scheme, including many leasehold flats, small and medium-sized businesses, buy-to-let properties and all properties built after 1 January 2009. The Flood Re regulations set out in some detail those properties that will not be covered by the Flood Re Scheme.