Why Tenants Should Think about Income Protection - Its Not Just For Homeowners
At Pendle Hill Properties, we meet a lot of fantastic tenants who take great care of their homes. But one thing we’ve noticed is that renters often think financial protection is “just for homeowners.”
The truth? It’s just as important for renters, sometimes even more so.
What is Income Protection?
Income protection is a type of insurance that provides you with a regular monthly payment if you can’t work due to illness or injury. It can help you keep up with essential costs, such as:
• Rent
• Utility bills
• Groceries
• Other living expenses
It’s designed to replace a portion of your income so you can focus on getting better, rather than worrying about how to pay your landlord or put food on the table.
Why Renters Should Consider It
When you own a property, you’ve got a mortgage to think about. But as a renter, you still have a monthly commitment — your rent. If your income suddenly stops, the risk of falling behind on rent payments can be just as stressful and damaging as missing a mortgage payment.
With income protection in place, you have the reassurance that your essential bills can still be covered, even if life throws you a curveball.
It Moves with You – Even If You Buy a Home
One of the best things about income protection is its flexibility. If you start out as a tenant but later decide to buy a home, your policy can continue without interruption. That means you won’t have to start from scratch or reapply — you’ll already have protection in place.
Speak to Our Mortgage & Protection Specialist
Here at Pendle Hill Properties, we work closely with Callum Booth, our trusted mortgage and protection adviser. Callum can help you understand your options and tailor an income protection plan to suit your needs — whether you’re renting now or planning to buy in the future.
If you’re a tenant and want to know how to protect your income, email us today at info@pendlehillproperties.co.uk to arrange a friendly, no-obligation chat with Callum.
