People dropping insurance in face of rising living costs
Sainsbury’s Finance has warned that the rising cost of living, which rose by an average of 4.2% between October and November this year alone, means many people are increasingly finding themselves without insurance.
New research from the bank reveals that at least 21.9 million people have opted out of purchasing at least one or more insurance products and 13% (2.9 million people) said that the main reason for not covering themselves was because they couldn't afford it or deemed it to be too expensive. T
he study also revealed that 4.7 million people claimed not to have home contents insurance and 4.28 million people did not take out travel insurance the last time they went on holiday abroad. The bank said
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