Millions of Britons who elect not to purchase insurance are taking risks, according to Sainsbury's Bank.
Recent research by the financial services provider suggests that more than 21.9 million consumers in the UK have opted not to purchase at least one type of insurance product.
A total of 4.7 million respondents claim not to have any
home insurance to cover their possessions, while 4.28 million did not take out
travel insurance last time they went on holiday overseas.
Steve Johnson, head of insurance at Sainsbury's Finance, comments: "Insurance is an absolute must, but our research suggests that millions of people are playing Russian roulette by opting to do without."
Meanwhile, the British Insurance Brokers' Association recently stated that the
home insurance market is "ultra-competitive" and urged consumers to shop around for the best package possible.
Those looking for a deal on any type of cover, from
home insurance to a policy to protect them while travelling, may find that
InsureandGo can provide them with a competitive quote.