Flood Re

If you live in a Park Home in an area which is deemed to be a high flood risk, or you have been unlucky to have experienced a flood at your park home in the past, then you will probably have experienced problems getting insurance cover to include flood cover, or if you have, was it at a reasonable price?

To combat homeowners not being able to obtain flood cover, or at a reasonable price to help homeowners whose properties are likely to be affected by floods, the insurance industry and the UK Government launched Flood Re, a ‘reinsurance scheme’, in April 2016.

This scheme is a way to help people living at risk of flood get access to affordable home insurance. Park Home Assist’s insurer Canopius, (one of the largest Lloyd’s Of London Underwriters) uses the scheme to offer affordable cover to park home customers whose properties are at risk of flooding. (Subject to meeting Flood Re’s requirements).

How does Flood Re work?

When it comes to choosing your Park Home Insurer, as long as their insurer has signed up to the scheme, nothing changes.

You buy your policy in exactly the same way and you’ll continue to be set a premium based on the details you give.

If you’re the owner of a park home where the base your home is sited upon was built before 2009 that’s at one of the highest risks of flooding, then your park home insurance that covers you against flood damage may be passed to the Flood Re Scheme.

All of this will happen automatically, if you opt for this cover. You don’t need to do anything and we’ll confirm if this applies to you in your policy schedule.

This also means that if you previously had a flood excess on your park home insurance policy, we’ll be able to replace this with a standard policy excess. So you aren’t expected to cover any extra cost of your park home is damaged by flooding.

Need More information about Flood Re?

Although you are not required to do anything to access Flood Re, you can visit the Flood Re website to find out specific information on the scheme. www.floodre.co.uk

Flood Re FAQ’s – Frequently Asked Questions

Questions about FloodRe from Park Home Assist

Recent winters have shown that flood continues to be an issue for the UK. Flood Re has been set up to ensure that insurance against floods continues to be available and affordable to homeowners.

We have worked with many park home customers over the years to support them and restore their park homes after devastating effects of being flooded. Our insurers are supporting the Flood Re scheme to represent the park home owners we insure who are at risk of flooding.

All insurers pay a ‘levy’ into a central fund held by Flood Re.

In addition, insurers can choose to place (cede) the flood risk of your park home insurance policy with Flood Re. For these policies the premium element will be based on your park home’s Council Tax band and the flood excess will be just £250.

The levies and the flood premiums collected by Flood Re will then be used to pay for flood claims on policies sent to them by the insurers.

This makes no difference to the way you buy your park home insurance and any claims will continue to be handled by our award-winning team as before.

If your home is included in the Flood Re scheme, we will contact you ahead of renewal date with details of your amended premium including the excess of £250 for flood.

Your premium could be affected if your property is identified by us as being at risk of flooding.

How have you identified my property at risk of flooding?

Our insurer invested in flood mapping software tools that enables them to look at properties on an individual basis and provide bespoke underwriting.

No, insurers do not all use the same data sources. The information that an insurer uses is commercially sensitive and you may find that insurers will differ in their approach.

It is possible that we can provide you flood cover without the need for Flood Re cover, however if you are having problems obtaining flood cover for your park home, or the costs appear to be excessive, answering the following questions may assist you in finding out, but the best way is contacting us.

Unfortunately not. Whilst all Park Home Insurance companies will provide flood cover, this is only on the risks they are will to accept, so if you live in a an area which has a high risk of flooding, and they do not provide Flood Re cover, then it is unlikely you will be able to obtain flood cover. Park Home Assist Insurance Services are one of the first providers of Flood Re cover within the Park Home sector.

No. If we are unable to provide you flood cover in the normal way, and you decide not to opt for the cover provided by Flood Re, or you do not qualify, we may well still be able to insure your park home, but excluding flood damage, although we would not advise you to do so.

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Park Home Assist Insurance Services is a part of Assist Insurance Services Ltd, registered in England and Wales 5486663, Royal House, Queenswood, Newport Pagnell Road West, Northampton NN4 7JJ. Assist Insurance Services Ltd is authorised and regulated by the Financial Conduct Authority for General Insurance Distribution activities and as a credit broker. We do not charge any up-front fees for arranging credit. We do not charge any fees to customers in relation to Credit Broking activities. We are members of the Financial Ombudsman Service. If you cannot settle a complaint with us, eligible complainants may be entitled to refer it to the Financial Ombudsman Service for an independent assessment. The FOS Consumer Helpline is on 0800 023 4567 and their address is:
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