Insurance News Mon, Sep 8, 2008
Economic slowdown affecting insurance take up
A report into the insurance industry has confirmed the worst fears of many, that people across the land are not renewing a variety of insurance premiums in order to save money. While there is no doubt that money is tight across the UK this is a ‘false economy’ which could see many hit with massive costs for a variety of reasons.
One of the main casualties of those suffering financial woes is home insurance with many of the opinion that there are savings to be made by cancelling cover. However, these are the people who actually need home insurance the most because they would not be in a position to replace items or refurbish their home in the event of a theft of more serious incident.
Home insurance is just one example where people are looking to make ‘false economies’ with others such as car insurance, health insurance and travel insurance also seeing cuts being made throughout the UK. However, those who stop for one moment to think about the consequences would realise the risks which are involved, not to mention the possible legal implications for car insurance.
Now is the time to shop around and improve upon your current premium payments, the savings are there with the online market never more competitive.
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