Groupama to underwrite 10,000 home contents policies

Groupama will underwrite home contents insurance for 10,000 residents of a UK housing association.

Paradigm Housing Group launched the new initiative to offer free home contents insurance to its residents, giving them peace of mind if they lose belongings through theft, fire, or accidental damage.

The Association of British Insurers has revealed that only 30% of residents living in social housing were covered.

Paradigm Housing Group head of asset manager Stuart Bishop said: “We have recognised that insurance is an extra cost for our residents, particularly in difficult times, and therefore it may not necessarily be considered as a high priority. This is why we have decided to offer insurance for all our residents, the cost of which is funded by Paradigm.

“The home contents insurance policy will cover the cost of the personal possessions in residents’ homes should they be damaged or destroyed by an insured event.”