‘Rental protection’ possible, says insurer

Life assurance and illness cover can be a form of “mortgage protection for renters” in Ireland, a leading insurance company says.

Royal London has urged people in long-term rental accommodation to “look at ways they can financially protect themselves similar to mortgage holders”.

The head of proposition at Royal London, Joe Charles, said many of the approximately 850,000 people living in rental accommodation in Ireland did not have the financial clout to buy their own home, would be in rented homes long-term, and therefore should seriously consider insuring themselves to provide protection for their homes.