Social housing tenants to get free home contents insurance

Published by Max Salsbury for 24dash.com in Housing and also in Communities, Finance

Paradigm Housing Group is to offer free home contents insurance to 10,000 of its residents.

The Association of British Insurers revealed that just 30% of all residents living in social housing have home contents cover.

Among those to have benefited from Paradigm’s insurance policy is 74-year-old Brian Lace (pictured) from Hemel Hempstead. He said: “I have been married for 45 years, and not once have we been able to afford home contents insurance because I was on a low wage when I was working, and now I am a pensioner, so this is just a real blessing.”

Stuart Bishop, Head of Asset Manager at Paradigm Housing Group, said: “We have recognised that insurance is an extra cost for our residents, particularly in difficult times, and therefore it may not necessarily be considered as a high priority. This is why we have decided to offer insurance for all our residents, the cost of which is funded by Paradigm.

“The home contents insurance policy will cover the cost of the personal possessions in residents’ homes should they be damaged or destroyed by an insured event.”