York insurance firm, Cavere Insurance, is one of the first brokers in the country to launch an affordable flood insurance product backed by Flood Re, the government and insurance industry supported not-for-profit scheme.
The brokers has successfully built and launched a buildings and contents insurance policy that provides affordable cover for homes affected by flooding.
In recent years, we’ve all seen how devastating a flood can be. Not only as the waters rise but afterwards too, as people struggle to find affordable insurance for their homes.
That’s why the Government has been working more closely with insurers in the UK, delivering a new way of dealing with and offering flood cover on home insurance through a not-for-profit scheme that’s funded by insurers.
The Cavere product offers cover up to £1 million for buildings and up to £60,000 for Contents with an excess of only £250 for flood claims. The product, underwritten by Ageas Insurance, one of Europe’s largest insurers is rated 5 stars by Defaqto, the independent financial research company.
Paul Thompson, CEO at Cavere, said: “I am delighted that Cavere has managed to be amongst the first in the country to offer a Flood Re backed product into the market. Being based in York we are only too aware of the impact flooding has on homeowners and their lives.
“What is great about the scheme is that homeowners in flood risk areas can now have the peace of mind knowing that their property is insured at an affordable price and the excess of £250 will not break the bank in the event of a claim.”