COTSWOLD residents are being reminded of a government scheme supporting home owners in flood prone areas.

Cotswold District Council has reaffirmed its support for the Flood Re scheme, where insurance companies work alongside the government to offer affordable insurance for home owners in flood prone areas.

The scheme, which runs until 2039 and is also backed by Gloucestershire County Council, enables flood insurance cover to be more affordable, increases the availability and choice of insurers for customers, and allows time for the government, local authorities, insurers and communities to become better prepared for flooding - reducing the likelihood and cost of dealing with it.

Councillor Sue Coakley, cabinet member for environment, said: “It’s distressing enough for householders when their homes are flooded, but this misery is compounded when they cannot obtain competitively priced insurance options and have to settle for very expensive deals.

"The scheme addresses this problem for many people, including those living in areas in the Cotswolds with a history of flooding.

"Under the terms of the scheme, insurance companies continue to collect payments and deal with any claims arising from policies. "However, portions of these payments are redirected to ‘Flood Re’ who take on the flood risk element for a fixed price thus keeping down the cost of the policy.

"‘Flood Re’ receive a levy on all insurance policies which funds their re-insurance scheme.”

The scheme applies to homes that were built before January 2009 and it is expected to help up to 350,000 homeowners nationally.

Properties that qualify must fall within a council tax band and should be insured in the name of an individual.

The scheme will not apply to leasehold flats in blocks of four units or more, nor is it open to businesses.

For more details about the scheme, visit floodre.co.uk/eligibility.