The number of people renting in the UK is growing all the time. Yet according to a report1, less than 10% of tenants have individual protection in place to cover their rent if they were unable to work due to illness.
This compares to 58% of mortgage holders who have life insurance, 28% who have critical illness cover and 12% with income protection insurance2.
Valuable protection – With figures from Shelter revealing that 45% of renters would be unable to afford more than a month’s rent if they lost their income3, having the right protection in place is crucial. It could also be less expensive than you think. Income protection cover typically pays out a percentage of your monthly income and can be used to pay your rent and bills should you be unable to work for a length of time.
Don’t forget your possessions – Figures4 show that over two million privately rented households (48%) do not have home contents insurance. Nearly a fifth of renters mistakenly believe it’s their landlord’s responsibility, while many others are put off by the monthly cost. However, with property contents averaging £25,126, it’s well worth having.
Get covered – If you’re renting, get in touch and we can arrange suitable protection insurance for you.
As with all insurance policies, conditions and exclusions will apply.
1Hymans Robertson, 2019, 2Aviva, 2019, 3Shelter, 2019, 4Nationwide, 2021
Catch up on our other blog posts:
MORTGAGE LENDING CONTINUES TO SOAR
Mortgage lending has soared to record levels, according to latest data from the Bank of England1, which reveals that gross advances in Q1 totalled £83.3bn, which represents a 26.5% increase on the same quarter in 2020 and the highest level since Q4 2007. Impact of the...
MAJOR BARRIER TO PROPERTY PURCHASE
Saving for a deposit has been cited as a major barrier to purchasing a home by 59% of people, according to the latest survey from the Building Societies Association (BSA)1. Climbing from 54% in December last year and just 40% last June, raising a deposit is...
DO YOU KNOW YOUR HOMES TRUE WORTH?
Do you think you know how much your home is really worth? Would you be surprised if it was worth much more or much less? Many homeowners’ estimates don’t live up to reality, with 45% of respondents to a recent survey1 undervaluing their property and 25%...
(Your home may be repossessed if you do not keep up repayments on your mortgage)
We charge a fee for arranging and advising you on the mortgage. The fee will be dependent on your circumstances but will not exceed £499. (Our typical fee is £299.)
For Lifetime Mortgages/Equity Release the fee will be £799.

Our mission is to provide honest mortgage advice, whilst helping you save money.
Get in contact
Flexible appointments
Or call —02380224925