More than four million renters 'risk homelessness' due to having no insurance in place- Scottish Widows

clock • 2 min read

UK renters are putting themselves at risk of homelessness by failing to have a financial safety net in place, research from Scottish Widows has warned.

  More than a third (38%) of private renters admit that they'd not be financially secure if their household lost its main income. And nearly four in 10 (39%) - amounting to 4.14 million people - said that if they fell seriously ill and were unable to pay their rent, "they would have no idea" where they would go or could be left homeless. Just 4% of private renters have critical illness cover and 22% have life insurance, leaving them at risk of eviction and financial hardship due to lack of a back-up plan if the unexpected were to happen. The research also revealed that more than...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Individual Protection

Probate delays jump 65% for year-long cases

Probate delays jump 65% for year-long cases

Cases taking over six months rose 112%

Jaskeet Briah
clock 23 April 2024 • 2 min read
Six in 10 claims handlers want to develop technological skills

Six in 10 claims handlers want to develop technological skills

Sprout.ai research shows

Jaskeet Briah
clock 22 April 2024 • 3 min read
AFM members pay out £70m on IP claims in 2023

AFM members pay out £70m on IP claims in 2023

Claims for musculoskeletal continue to rise

Jaskeet Briah
clock 17 April 2024 • 2 min read