Frequently Asked Questions
Have a question?
You can find the answers for the most common questions asked by our customers
- Policy information
- Sensor & installation
- Customer service
- In the event of a flood
If you are looking to cover a large or complex risk where you expect premium to be in excess of £50,000 you may be eligible for FloodFlash+. FloodFlash+ is available anywhere around the world. To find out if it can help your risk get in touch via our contact page.
- how much it might cost to make repairs to your property in the event of a flood
- the cost of replacing or repairing damaged stock, machinery, contents, etc
- the terms and limits of any existing flood insurance you might have - for example your existing insurance might have a very large excess (sometimes called a deductible) for flood damages, or the level of cover provided might be insufficient for your needs.
The payout from a FloodFlash policy can be spent on whatever you need, so make sure to consider any direct or indirect costs that may be specific to your business or property.
We will always charge a lower premium for policies with a higher trigger depth, so it could pay to think about what level of water will start to cause damage and/or financial cost to your business and ways to become more resilient.
Remember that we measure flood depth from ground level outside your property.
FloodFlash doesn’t cover flooding due to burst pipes (sometimes called escape of water). It is likely that this is covered under your existing insurance, though we recommend you check with your insurance provider.
If these are still too high, you may want to consider investing in measures to increase your flood resilience, such as a flood management plan or flood defences. A FloodFlash policy can work in harmony with these investments to lower your premium. If you have taken steps which will reduce the overall cost of flooding, then you can choose a lower payout. If you are protected to a greater depth, then you can raise the trigger level.
One of our first policyholders cut their premium by installing 1 metre high floodgates on their building. The gates enabled them to raise their trigger depth to over 1 metre, delivering a policy with the same coverage amount for a much lower premium.
We currently only provide cover for one event per annual policy. If you do make a claim, you will need to renew your FloodFlash policy to restart the cover. You can do this by contacting us directly or through your insurance broker.
There is no problem in updating your depth/payout when you renew.
If you require additional cover, get in touch as there is a good chance we can help after referring through to our underwriters.
With expertise earned over centuries, Lloyd’s is the foundation of the insurance industry and the future of it. Led by expert underwriters and brokers who cover more than 200 territories, the Lloyd’s market develops the essential, complex and critical insurance needed to underwrite human progress.
Backed by diverse global capital and excellent financial ratings, Lloyd’s works with a global network to grow the insured world – building resilience for businesses and local communities and strengthening economic growth around the world.
Please contact us if you would like to know details of which underwriters we are currently working with.
(a) on outside wall of the insured premises detailed in your policy schedule,
(b) not in a drain, stairwell or other depression that takes the sensor below ground elevation,
(c) not on a wall that touches or abuts water, and
(d) your choice. Our engineers cannot advise you where to place the sensor.
FloodFlash will refer your complaint to the underwriters of this policy, Munich Re Innovation Syndicate 1840 at Lloyd’s. You may also contact Munich Re Innovation Syndicate 1840 directly, by calling +44 (0)20 7886 3900, emailing MRSLfirstname.lastname@example.org, or writing to: The MRSL Complaints Team Munich Re Syndicate Limited, St Helen’s, 1 Undershaft, London, EC3A 8EE.
If you remain dissatisfied, it may be possible in certain circumstances for you to refer the matter to the Complaints team at Lloyd’s. The address of the Complaints team at Lloyd’s is: Complaints, Lloyd’s, One Lime Street, London, EC3M 7HA. Telephone: 020 7327 5693. Fax: 020 7327 5225. E-mail: email@example.com. Website: www.lloyds.com/complaints.
Details of Lloyd’s complaints procedures are set out in a leaflet ‘Your Complaint - How We Can Help’ available at www.lloyds.com/complaints.
Full details of how you can report a complaint can be found in your Policy Documentation.
We will issue the payout to you if we are satisfied that a valid claim would have been payable under this policy after considering the available evidence. For more information visit section 5 of your policy document.
Remember, FloodFlash policies end when a claim occurs. If you would like to put cover back in place for the trigger depth that was breached, you would need to purchase a new policy separately at that trigger depth.