What type of claimant cannot use Flood Re for compensation?

Flood Re is a scheme in the UK designed to make flood insurance more affordable and accessible for residential homes at risk of flooding. It is primarily aimed at enabling households to secure appropriate coverage in flood-prone areas where obtaining insurance might be more challenging due to the perceived risk.

The important context here is that Flood Re is specifically targeted at residential claimants, meaning it cannot be utilized by businesses, including commercial claimants. Commercial properties do not qualify for Flood Re coverage as the scheme is exclusively intended to assist homeowners in obtaining affordable insurance, addressing a significant gap in the market for residential properties facing flooding risks.

The distinction is crucial because it highlights how Flood Re was created with the intention of protecting individual households rather than business interests, thus ensuring that residential properties are prioritized in the insured landscape affected by flooding.