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Insurers widen access to home insurance in the North East

The ABI has teamed up with insurer RSA and brokers Marsh to bring together housing providers from councils and housing associations at an event in the North East today, 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. The aim of this event is to bring together expertise from the insurance, housing and local government sectors to share good practice and generate ideas to encourage a higher take-up by residents.

The event is part of the ABI's broader initiative to address the barriers to financial inclusion.

James King, the ABI's Assistant Director, Markets and Regulation, 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 RSA, said:

"RSA has been providing schemes for social housing tenants for over 15 years, designed to be as simple, flexible and affordable as possible. Average weekly premiums can be as low as £1.50 and are usually collected with rental payments.

"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."


ENDS


Last updated 01/07/2016