Under a government backed scheme that is supposed to help with affordable insurance in flood-prone areas, homeowners could face a “three strikes and you're out” policy.
In April, Flood Re will be launched, which will be funded by all homeowners via a supplement of insurance policies. The supplements of insurance policies is said to be an average on £10.50 annually, and is meant to provide subsidised cover for 350,000 houses which are at risk of flooding.
