Flood Re a new insurance policy for homes at risk of flooding has started to accept insurance policies from this morning.
HomeProtect who are offering the policies, are also going to help cover any mid-term cancellation costs if home owners switch to them from another insurer before 19 April, there are Terms & Conditions to this offer.
A recent HomeProtect customer survey reveals that 65% of customers shop around because they think their current premium is too high. But only 1 in 5 shop around outside of their renewal date. Many customers may not know that they can switch immediately without waiting for their renewal date to save money and not every insurer is taking part in the scheme. However, if there is a cancellation fee some customers may feel forced to wait until renewal to seek a new policy.
As one of the first providers in the UK to offer consumers a home insurance policy with the Flood Re scheme, HomeProtect will provide access to more affordable flood risk home insurance. Residents who have previously paid high flood premiums and excesses could now potentially save hundreds of pounds.
By switching to a HomeProtect Flood Re policy, customers can claim back the fee charged by their existing insurer for cancelling their policy mid-term. This limited time offer could make affordable flood cover even more available to households which qualify for the Flood Re scheme at launch.
Shane Leivers, Director of Product and Marketing at HomeProtect, commented
It’s clear to us that customers already paying high premiums would like to take advantage of the Flood Re scheme straightaway. The good news is that customers don’t have to wait. We believe cancellation fees might be a barrier which is why we are giving those customers the opportunity to bypass renewal and start saving with HomeProtect today. In the next few weeks, we are also contacting existing HomeProtect customers who qualify for the Flood Re scheme to pass on any cost savings too.
Home owners can check if they are eligible to benefit from the Flood Re policy by using the online calculator at https://www.homeprotect.co.uk/our-cover/flood-re/floodre-eligibility-calculator
HomeProtect: Underwritten by AXA and other reputable insurers, HomeProtect is the brand of choice for homeowners with complex home insurance needs: https://www.homeprotect.co.uk/
Terms and conditions: https://www.homeprotect.co.uk/cash-back/flood-re-switch-offer
Offer availability: 4th April 2016 – 19th April 2016