FAMILIES in flood-prone Canvey homes could benefit from a specialist insurance scheme...but islanders living in new-builds have been warned they do not qualify.

The insurance scheme, known as Flood Re, was launched at an event on Friday, attended by firefighters, Environmental Agency officials and MP Rebecca Harris.

Campaigners have welcomed the greater support it will offer to families at risk, who would otherwise be priced out of getting flood insurance.

But insurers have warned homes built in flood risk areas after 2008 will not be covered by the scheme.

Flood Re, a non-profit company, will enable insurance companies to insure themselves against losses caused by flooding.

It is the first scheme of its kind anywhere in the world, and means homeowners can receive reduced premiums and excesses.

Brendan McCafferty, chief executive of Flood Re, is urging families to contact their insurers to check for their eligibility believing the scheme can reduce premiums by five times.

He said: “We stay in the background and ensure families can get access to affordable insurance.

“A lot of families have found that in their renewal notices, they simply can’t afford insurance being offered and have seen a huge hike in their premiums.

“In Cumbria for example, families who were flooded in the winter and thereafter, were being quoted in the region of £4,000-a-year in premiums with an excess of £25,000.

"With the help of the scheme, figures now read at around £800-a-year with an excess of just £250.”

“There are 28 insurance companies involved, so we've tried to make it as accessible as possible. It is important to stress that there are some exemptions.

"We don’t cover businesses and of course homes built after 2008 are not covered after government flood risk legislation was passed in 2009.

“But on the whole there are so many out there who can benefit from this.”

A lightning strike in July 2014, cut power to 11 of Castle Point’s pumping stations as enough rain to fill Wembley Stadium fell on Canvey and other parts of the borough.

Rebecca Harris, Tory MP for Castle Point, believes Canvey is much better equipped to cope with flooding.

Mrs Harris has also called on islanders to ensure they do their bit to prevent blockages of drains across the island.

She said: “This is really important and will have a big impact for a lot of families.

“What we need to get across is that residents also have a responsibility to do their bit to help keep the drains free of rubbish and litter. We know that the drainage on the island is an ongoing problem, so the last thing it needs is to be blocked and that in turn leads to major problems.

“Ultimately Canvey is a much safer place to live now in terms of flood risk and we want to keep working to improve that.”