House insurance should be a contractual part of social housing rental as a lot of people would not buy it unless there was a "compulsion" to do so, it has been claimed.

Peter Staddon, the head of technical services at the British Insurance Brokers' Association (BIBA), believes that those in social housing should be contractually obliged to pay a certain amount of insurance as part of their rent.

According to Mr Staddon, the damage caused by floods last year served as evidence of how important insurance cover is.

The industry is working to help lower income families access the market by offering cheaper deals, he added.

"What we should be doing is making home insurance contractual. In other words, if you are in social housing, you have to, as part of your rent, pay a certain amount of insurance," stated Mr Staddon.

In addition, he said there were around 25 per cent of people in the UK who currently live without home insurance.

BIBA is the UK organisation which represents the interests of insurance brokers and customers.

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