Higos launches PPI for tenants

by Gill Montia

Story link: Higos launches PPI for tenants

Somerset-based Higos Insurance Services has launched a payment protection plan aimed at tenants.

The new policy covers rental payments in the event of unemployment or sickness and is available to private and social tenants, plus those still living at home and paying rent to parents.

Cover can be extended to embrace a range of monthly outgoings including mobile phone bills, gym membership, TV subscriptions and finance agreements (excluding credit cards).

The broker’s managing director, Ian Gosden, points out that while the UK rental sector makes up around one-third of the overall housing market, the majority of tenants have no such insurance in place.

He explains: “It is common for people with mortgages to protect their payments but only now are plans becoming available that give tenants the same peace of mind, not only to cover their cost of the roof over their heads but also a range of other fixed monthly outgoings that people cannot afford to lose.”

The policy is available with a 12 or 18-month benefit option and can be tailored to fit individual needs, with a choice of cover between accident, sickness and unemployment; accident and sickness; or unemployment only.

Higos reported strong growth in 2009, despite the economic downturn and puts its success down to a decision to focus on services, staff training and relationships with clients.

The broker began trading in 1990 and has recently opened four new High Street branches across its South-West heartland in efforts to give customers the opportunity to deal with staff face-to-face.