Almost a quarter of Brits are cutting back on essential insurance, it has been suggested.
New research from the Fair Investment Company shows that around 24 per cent of people surveyed admitted that they have no
life insurance,
home insurance, medical insurance, payment protection insurance or
travel insurance.
Home insurance was the most common type that people did have, with 62 per cent saying they had protection in place for their home and its contents.
Brits seemed to deem payment protection insurance as the least important, with just 12 per cent saying they had this.
Insurance for going on holiday was also unpopular, despite warnings often being given about the dangers of travelling abroad without adequate
travel insurance. Three-quarters of respondents admitted to having no travel cover.
In related news, it was recently reported on Money News that
annual travel insurance was "very much worthwhile".
InsureandGo offer a wide range of
travel insurance.