Half of solo homeowners still have no income protection

49% of those buying a property alone are doing so without income protection in place, despite more than two thirds (68%) being offered financial advice on protecting their income during the buying process, new research from Zurich Retail Protection shows.

Nearly one in three (29%) cite the cost of protection as the primary reason for not having any, while a quarter (25%) simply believe they are not at risk. A further 6% believe these products are only required by ‘older people’. 

As upfront buying costs climb to £9,300 - £12,300 before solo homeowners even get the keys, many are sacrificing financial resilience to secure a property. The result is a growing reliance on family support, with one in ten saying they would have to ask their parents for cash if they were unable to cover their bills.  

UK household dynamics continue to evolve, with ONS data showing a 10.5% increase in solo-living households over the past decade. More than one in five women (21%) say they did not want to delay getting on the property ladder while waiting to meet a partner, while 26% wanted full control over where and what they buy. For nearly a third (31%), buying alone represents a defining moment of independence and personal achievement. 

The average age of a first-time buyer has risen from 32 in 2015 to 34 a decade later, highlighting how affordability pressures and lifestyle changes continue to push major financial decisions further into adulthood. At the same time, fewer people in their 20s and 30s are marrying or having children, reducing the traditional triggers that once prompted protection planning. 

Zurich’s research shows that among the under 40s, milestones such as buying a home (13%) or starting a family (8%) are increasingly delayed, reshaping how and when people engage with financial protection.

Louise Colley, director of retail protection at Zurich UK, said: “Buying solo has become a defining feature of modern homeownership, particularly among younger generations and women. While it reflects confidence and independence, it also exposes a gap in financial resilience, with many buyers' expecting family to step in if they hit financial difficulty. The bank of mum and dad can sometimes quietly fill that gap, but it shouldn’t be a substitute for proper financial protection.

“Buying a home alone can be empowering, but it also means carrying all the financial risk yourself. With higher living costs and economic uncertainty still front of mind, it’s concerning that so many solo buyers are taking on a mortgage without any income protection in place. Insurers and advisers need to recognise how protection needs are evolving and work to address the increasing gaps in coverage.”