A new flood insurance scheme aims to help at-risk households get more affordable cover and save money.

Flood Re aims to give people living in homes which are at high risk of flooding a choice of insurance providers and allow them to shop around for the best deal.

Its backers hope the increased competition will drive down premiums. It is estimated that over time around 350,000 UK households could benefit from the scheme.

The north east of Scotland was hit by devastating flooding over New Year which forced dozens to leave their homes.

Brendan McCafferty, chief executive of Flood Re, said he is "delighted" that the scheme is now live.

He said: "This should make flood cover more affordable and accessible to those in high flood risk areas over time.

"Consumers should check the Flood Re website to see which insurers are signed up, speak to their current insurer and be prepared to shop around. When buying a policy they should make sure it is the best one for them, not just the cheapest."

Mr McCafferty continued: "If you're in a high flood risk area then Flood Re may also mean having a choice of insurance provider for the first time in many years. Again, shop around and see what cover and prices you are offered."

The scheme is funded by an annual levy on insurers and removes the flood risk element of insurance for an insurer to keep the cost of the policy down.

The Association of British Insurers said the cost of fully drying, repairing and restoring a flooded is usually between £20,000 and £45,000 and the damage caused by storms Desmond, Eva and Frank is thought to total around £1.3bn across the UK.

The average payout for insurance claims made as a result of the storms was £50,000.