Survey shows homeowners have insufficient protection
March 8, 2026 by Brendan O'Neill
Surveys and Statistics
A new survey has found that the majority of people who own a home do not have sufficient insurance cover, although many believe otherwise.
What this survey shows is that only 36% of homeowners in the UK have critical illness insurance. That leaves the other 64% vulnerable to losing their homes if they become seriously ill and are unable to maintain their mortgage payments. This figure is taken from the Financial Readiness Index that was published by financial services software provider Iress.
However, the situation is a lot different when it comes to homeowners who used a mortgage advisor when buying. Among that group, 71% have critical illness insurance policies. This is clear evidence of how important professional advice can be, as it often stretches beyond just the mortgage process.
The Iress survey shows that a failure to get sufficient levels of protection is commonplace among UK adults. The number who are protected against sudden loss of income stands at just 19%. Meanwhile, four out of every 10 people who took part in the survey were under the impression that they did have enough protection.
Alistair Morgan is the chief executive of Iress UK. He was quoted by Mortgage Strategy as saying that the findings expose a gap between belief and reality.
He then went on to say:
“The data shows that advisor involvement significantly improves outcomes, helping ensure protection is in place when it’s needed most.”
Protection advice is something that those who have done a CeMAP training course can promote as part of their services.
Written by
Brendan O'Neill
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