Generation Rent: what does the rising number of renters mean for the insurance industry?

Most rental agreements run smoothly, but it's important both landlords and tenants have the right insurance cover in place for if things do go wrong

Increasing numbers of households in the private rented sector brings with it a number of insurance considerations, to ensure that both parties have adequate protection.

According to recent research conducted by PwC, the average UK house could be worth around £360,000 by 2020. With house prices rising to levels higher than ever before, household ownership is becoming more unobtainable than ever, pushing the number of people in the private rented sector to an all-time high. In fact, the number of those in the private rented sector has doubled since 2001, rising from 2.3 million to 5.4 million in 2014 (PwC). This trend is projected to continue with an additional 1.8 million households becoming private renters by 2025 (PwC).

Read more about the insurance needs of Generation Rent

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