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Tenant Risks

Working to Increase Financial Inclusion

Our Tenant Risks division in association with the National Housing Federation, Community Housing Cymru and many Local Authorities throughout the UK provide tenants with affordable Home Contents Insurance.

We believe every individual has the right to access suitable Home Contents Insurance and through our thorough understanding of the demands and needs of tenants we are able to craft an insurance solution that fully suits their lifestyle.

Through our various product brands including 'My Home', 'The Crystal Insurance Scheme Scotland' and 'My Home Cymru' we offer tenants:

• Affordable premiums.

• Flexibility – to help make our insurance cover easy to purchase and accessible, tenants are able to pay their premiums by cash as well as the usual monthly direct debit or annual methods. This flexibility is likely to suit the financial situation of many tenants.

• Lower minimum sums insured – tenants may assume that they will be unable to obtain home content insurance because the required minimum sum insured is too high.

• No excess - unlike standard insurance offerings we do not ask tenants to pay the first part of any claim.

• All postcodes are included - there is no red lining

• Excellent basic cover on a new for old basis with the option to upgrade cover to include a number of useful extensions.

How does Home Contents Insurance fit in to the social housing sector?

For a Home Contents Insurance scheme to work effectively in the social housing sector it is vital it is well promoted. There is a need for understanding not only of the benefits of insurance, but also of perceptions and potential barriers that exist.

Although Home Contents Insurance Schemes run through Local Authorities and Housing Associations have increased in number, many are still under used. We work with our existing clients to ensure the product is fully understood and their staff are able to get the message across to tenants that Home Contents Insurance is an affordable necessity rather than a luxury.

Financially excluded groups can be distrustful of the insurance industry and may feel insurers are out to ‘rip them off’ or that there is always a ‘get out clause’. We help our clients overcome these concerns from their tenants by assisting in explaining the benefits of Insurance and that the scheme has been tailored to the particular needs of tenants.

Jardine Lloyd Thompson Tenant Risks provide for their clients free web based e-learning to assist all front line housing staff in understanding some of the issues and barriers which cause financial exclusion.