News

Cost of living crisis causes 43% of insurance customers to cancel policies when seeking to cut cover costs

By 2023-01-18T15:47:00

money, cost of living

Head of consumer strategy queries whether the industry is doing enough ‘to be the safety net that newly financially vulnerable customers really need’

Of the 7% of insurance consumers who have cut back on their insurance provision over the last three months to make financial savings due to the UK’s cost of living crisis, 43% have chosen to completely cancel certain policies, according to new research by Bristol-based market research company Consumer Intelligence.

Read more…

Explore more news articles here, or read up on financial content here.

You need to register to continue reading the rest of this article and more for free.
(If you’re already registered, please sign in here.)

REGISTER NOW FOR FREE

We’re glad you’ve chosen Insurance Times as your source for industry news and hope you’ve been enjoying reading articles from our award-winning team of journalists.

Gain access to more of our exclusive, breaking stories, interviews and news analysis as it happens. Registering is quick, easy, free, and will also have the additional benefits:

  • Uncover Secrets: Dive deep with exclusive annual reports, fueled by expert insights.
  • News That Matters: Award-winning coverage & analysis, delivered to your inbox.
  • Stay Ahead, Your Way: Daily or weekly - choose your news rhythm.
  • Own Your Learning: Curate your knowledge with a personalized library.

Register for FREE now and Keep Reading

Stay on top of the insurance game with our subscription! Get unlimited access to over 80,000 articles, in-depth analysis, exclusive reports by industry experts, and our Five-Star rating system to compare companies and find the best fit for your business needs - view subscription options.