A spokeswoman for the site, Rachael Stiles, said it was "concerning" that almost a quarter of people are cutting back on life and travel insurance.
She added she could "understand" why people would go without in the current economic climate, but added that insurance is "one area that is sustained".
The research also found that only ten per cent of people aged 19 to 21 have life insurance cover, which Ms Stiles described as an "affordable expense".
She stated: "When it comes to life insurance, young people should be more aware as you never know what is around the corner."
Recent research by esure advised Britons not to take off on ski holidays this winter without travel insurance.
Some 18 per cent of respondents admitted they would go without the cover to save on the costs of a winter sports holiday.
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