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‘Ditching’ insurance is a false economy saver

Most people are choosing not to renew their home insurance due to the recession, research shows. Contents cover, buildings insurance and even life insurance are all being one of the first things people are cutting back on to save pennies in the recession.

This is something that will prove costly in the future and should only be done in desperate measures.

Insurance provides us with the security that we are not going to be out of pocket if a disaster were to happen. Without this insurance, many items destroyed, stolen, damaged etc will only be able to be fixed or replaced with a great cost to the consumer. It will not only out price the insurance cover itself, but many people will not be able to fix the items and consequently suffer a great loss.

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