Cutting back on insurance now 'could cause future problems'
www.moneynews.co.uk > Insurance > Cutting back on insurance now 'could cause future problems'
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Cutting back on insurance now 'could cause future problems'
Fri 3rd Jul 2009
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According to technical services manager at the British Insurance Brokers' Association Steve Foulsham, the organisation is concerned that by cutting back on insurance, people are risking their chances of claiming when something does go wrong.
Plus, he added, some forms of insurance are essential rather than optional, therefore people need to think very carefully before they decide to cut back.
"You need to bear in mind that you do need motor insurance to comply with the law, so you do need to appraise what you're getting," he continued.
Research conducted recently by Mintel found that 77 per cent of Brits shop around for the best deals before renewing their motor insurance policies. It also found that 45 per cent get up to three quotes before committing to one contract.
Click here for more insurance news
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