Affordable home insurance project launched

People living in social housing in the north-east should find that they have greater access to home insurance under new proposals, it has been claimed.

According to the Association of British Insurers (ABI), the Insurance with Rent scheme will encourage take-up among tenants in the region.

Under the system people can access cheap home insurance and pay for it weekly, fortnightly or monthly alongside their rent.

James King, the ABI's assistant director for 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.

Vulnerable people need to be educated as to how they can access affordable home insurance, he added.

Meanwhile, anyone who does have home insurance in place needs to make sure that they inform their policy provider before they make major home improvements .

Neil Laird, home insurance manager for Sainsbury's Finance, warned that people who does not do so risks invalidating their policy.