Despite the effects of the ongoing recession, Britons have been warned of the dangers of reducing their level of cover - be it car, home or
travel insurance - to provide a short-term financial boost.
Steve Foulsham, technical services manager at the British Insurance Brokers' Association, said that while it could be tempting for many to reduce their level of insurance cover, doing so could leave them open to a financial shock in the future should they need to make a claim.
"Clearly when money is a bit tight - and if you subsequently have a problem when you come to claim - then it can be even more of a problem at that time than at the time when you purchased the insurance," Mr Foulsham argued.
The latest figures from a YouGov survey on UK
car insurance revealed that around 6.5 per cent of UK motorists (two million) have driven uninsured. It also showed that approximately 300,000 UK drivers are convicted of driving without insurance each year.
InsureandGo offers a range of cover - including travel insurance, home and car insurance - for individuals looking for financial protection during the economic downturn.
