Income Protection Insurance

Income protection Insurance for Renters

Protect your income, pay your rent, and keep your lifestyle on track if the door closes on your salary.

Edited by:
Fact Checked by:
August 6, 2025

Why renters need protection

If your income stopped tomorrow, how would you keep up with rent and pay bills? Income protection insurance gives you peace of mind that if you're too unwell to work, your income won't suddenly vanish. It's can be especially useful for renters who don't have a mortgage or home equity to fall back on.

Cover your rent if you can't work

Rent doesn't stop just because you're off sick. Income protection covers part of your salary if illness or injury strike - so you get breathing space to recover.

  • Monthly payouts to cover rent and more
    You'll typically get 50–70% of your salary paid as a monthly benefit. That's usually enough to cover your rent, bills, groceries, and other living expenses - even if you're off work for months.
  • Flexible options suit your situation
    Whether you're full-time, part-time, or self-employed, there's a policy to fit your income structure.
    Freelancers, for example, can get tailored cover that pays out if they can't take on new projects.

Protection beyond sick pay

Many employers offer only short-term sick pay, and statutory sick pay (SSP) is about £118 a week in 2025. That won't stretch far - especially with rent prices rising across the UK.

  • If your job doesn't come with perks
    If you're in retail, hospitality, or gig work, chances are your employer offers the bare minimum. Income protection fills that gap.
  • Support when you need it most
    Long-term illness like cancer or mental health struggles can leave you unable to work for months or years. Income protection is designed to let you focus on recovery.

Summing up

How to stay afloat when illness or injury keep you off work? For renters and tenants, income protection can be the difference between stability and serious money stress. It's flexible, affordable, and can give you peace of mind when life flips the floor plan.

Frequently Asked Questions

Can renters really get income protection?

Yes, absolutely. Income protection isn't tied to owning a home - it's based on your income. In fact, renters may need it even more, as they usually don't have property equity as a cushion. If you're paying rent and depend on your income to cover bills, this kind of insurance can keep you from falling behind.

Can renters really get income protection?

Yes, absolutely. Income protection isn't tied to owning a home - it's based on your income. In fact, renters may need it even more, as they usually don't have property equity as a cushion. If you're paying rent and depend on your income to cover bills, this kind of insurance can keep you from falling behind.

Can renters really get income protection?

Yes, absolutely. Income protection isn't tied to owning a home - it's based on your income. In fact, renters may need it even more, as they usually don't have property equity as a cushion. If you're paying rent and depend on your income to cover bills, this kind of insurance can keep you from falling behind.

How much does income protection cost?

The cost depends on your age, job, lifestyle, and how much cover you choose. But for many, monthly premiums start at under £10-£20 per month - less than a typical streaming subscription or takeaway. It's arguably a small cost for the peace of mind that your rent and bills are covered if you're too ill to work for a while.

How much does income protection cost?

The cost depends on your age, job, lifestyle, and how much cover you choose. But for many, monthly premiums start at under £10-£20 per month - less than a typical streaming subscription or takeaway. It's arguably a small cost for the peace of mind that your rent and bills are covered if you're too ill to work for a while.

How much does income protection cost?

The cost depends on your age, job, lifestyle, and how much cover you choose. But for many, monthly premiums start at under £10-£20 per month - less than a typical streaming subscription or takeaway. It's arguably a small cost for the peace of mind that your rent and bills are covered if you're too ill to work for a while.

How long does income protection pay out for?

You can choose how long you want the policy to pay out. Short-term policies often cover you for up to one or two years, which works for many renters. Long-term policies can go on until retirement if needed. It depends on your budget and how much security you want if you can't get back to work quickly.

How long does income protection pay out for?

You can choose how long you want the policy to pay out. Short-term policies often cover you for up to one or two years, which works for many renters. Long-term policies can go on until retirement if needed. It depends on your budget and how much security you want if you can't get back to work quickly.

How long does income protection pay out for?

You can choose how long you want the policy to pay out. Short-term policies often cover you for up to one or two years, which works for many renters. Long-term policies can go on until retirement if needed. It depends on your budget and how much security you want if you can't get back to work quickly.

Do I need to be employed full-time to qualify?

Not at all. You can still get protection if you’re self-employed, on a zero-hours contract, or working part-time. You'll usually need to provide proof of regular income - like payslips or tax returns. Some income protection policies are designed with freelancers and gig workers in mind - they give you flexible coverage that adapts to your income situation.

Do I need to be employed full-time to qualify?

Not at all. You can still get protection if you’re self-employed, on a zero-hours contract, or working part-time. You'll usually need to provide proof of regular income - like payslips or tax returns. Some income protection policies are designed with freelancers and gig workers in mind - they give you flexible coverage that adapts to your income situation.

Do I need to be employed full-time to qualify?

Not at all. You can still get protection if you’re self-employed, on a zero-hours contract, or working part-time. You'll usually need to provide proof of regular income - like payslips or tax returns. Some income protection policies are designed with freelancers and gig workers in mind - they give you flexible coverage that adapts to your income situation.

Do I need to be employed full-time to qualify?

Not at all. You can still get protection if you’re self-employed, on a zero-hours contract, or working part-time. You'll usually need to provide proof of regular income - like payslips or tax returns. Some income protection policies are designed with freelancers and gig workers in mind - they give you flexible coverage that adapts to your income situation.

What's the difference between income protection and critical illness cover?

Income protection gives you a regular monthly income if you can't work due to any illness or injury, big or small. Critical illness cover only pays out once, in a lump sum, and only for specified critical illnesses like cancer, heart attacks, or strokes. Some people choose to have both for extra protection.

What's the difference between income protection and critical illness cover?

Income protection gives you a regular monthly income if you can't work due to any illness or injury, big or small. Critical illness cover only pays out once, in a lump sum, and only for specified critical illnesses like cancer, heart attacks, or strokes. Some people choose to have both for extra protection.

What's the difference between income protection and critical illness cover?

Income protection gives you a regular monthly income if you can't work due to any illness or injury, big or small. Critical illness cover only pays out once, in a lump sum, and only for specified critical illnesses like cancer, heart attacks, or strokes. Some people choose to have both for extra protection.

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About the author

Lawrence Howlett

Founder of Money Saving Advisors and a finance writer known for clear, actionable insights.

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