What is it?
Flood Re is a flood reinsurance scheme devised by the government and the insurance industry. It has been set up to help people living in high risk flood areas to find insurance for their homes.
How does it work?
When you buy or renew your home insurance, the insurer will decide if they want to cover the flood section of the policy. If they do not wish to do so then rather than declining to insure the property or applying a high premium and excess, the insurer can choose to pass the flood risk over to Flood Re for a premium. The insurer will still be liable for any other claims such as fire and theft, but any flood claim will be funded by the Flood Re scheme
The scheme makes no difference to how you buy or renew your home insurance with us. Once you have purchased a policy, you will always deal with Saga and the insurer even if you have to make a claim.
For more information please read the following Flood Re leaflet.
What does it mean for you?
Saga is now part of the Flood Re scheme and we may be able to offer you cover if you live in a flood risk area.
Please note some properties are excluded from Flood Re, for example properties built after 2009, commercial properties (which includes those let to tenants, covered by Landlord Insurance) and properties located in the Isle of Man and the Channel Islands.
If you wish to buy your home insurance through Saga and you have experienced a flooding incident at your current property, then please call us on 0800 092 3298. If you live in a flood risk area and have not experienced a flooding incident then please call this number or alternatively get a quote online.
Please see our policy documentation and claims page for further details on making a claim.