The Association of British Insurers has teamed up with Royal & Sun Alliance Insurance Group and brokers Marsh to bring together housing providers from councils and housing associations at an event in the northeast, with the aim of widening access to home contents insurance.
‘Insurance with Rent’ is a scheme under which tenants can access affordable home insurance, paid for weekly, fortnightly or monthly alongside their rent. Local authorities and housing associations run the schemes and collect premiums at the same time as collecting rent.
James King, assistant director of markets and regulation at Association of British Insurers (ABI), said: For people on low incomes, buying insurance is sometimes not a priority. However, it is often the most vulnerable who can benefit the most from insurance. The aim of this event is to share information about how we can all serve this section of society better in order to protect them against risk that they cannot otherwise manage.
Debbie Southall, social housing schemes manager at Royal & Sun Alliance Insurance Group (RSA), added: We support the government’s view that Insurance With Rent schemes are a key way of broadening access to basic insurance and believe it is important that as an industry we raise awareness of the availability of these products.