Sebastian Riemann, financial consultant at Libra Financial Planning, agreed but said targeting renters didn't necessarily need an influx of new products in an already saturated market space.
He said: "It's great to raise awareness that protection is for everyone, including renters, but I'm not sure a new potentially confusing product range is the right way to go."
Providing protection to the private rental market was discussed in Swiss Re’s latest Health & Term Watch report, where many survey respondents felt there needed to be a move away from ‘mortgage cover’ to ‘housing cover’.
The Building Resilient Households Group will be making a case for all households to consider buying protection, not just mortgage holders, and respondents to Swiss Re's survey agreed.
One provider said: "All working families could insure against the gap arising due to being off work sick, rather than just those who own their own homes with a mortgage."
Another thought "clearer messaging" to show the "value of protection to protect rent as well as mortgages" was needed.
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