Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
PRS Homes Still Not Covered by Flood Re Scheme
The government has announced reforms to the Flood Re scheme, introducing cheaper contents insurance for some households. However, rental properties in the private rented sector (PRS) remain excluded from the scheme.
According to Property118, the reforms are intended to assist flood-stricken homes, but there is ongoing uncertainty over eligibility. Industry body Propertymark has raised concerns that significant gaps in eligibility persist, specifically highlighting that PRS homes are still not covered by the Flood Re scheme.
This continued exclusion is relevant for UK letting agents and inventory clerks, as it affects the insurance options available to landlords and tenants in flood-prone areas. The reforms may benefit some households, but the lack of inclusion for PRS properties means that many rental homes remain without access to the scheme's protections.
Source: Property118