ABI: 35% of low income households have no insurance

Compare tariffs and switch energy supplier in minutes

Compare energy deals and switch supplier to cut your energy bills by £447* a year - start saving money in a matter of minutes!

in partnership with Banner uswitch

Looking to switch your business energy supplier? Click here

* Between 1 Jul 2018 and 31 Dec 2018, at least 10% of people who switched energy supplier for both gas & electricity with uSwitch saved £447 or more.

New research by the Association of British Insurers (ABI) has uncovered that 35 per cent of households that earn under £10,000 have no insurance cover.

The association's new report also found that some low income households without cover increase their financial problems by borrowing funds to replace stolen items.

Discussing the figures, ABI's director general Stephen Hadrill said the report revealed how insurance companies should "address the issue" of households not taking out insurance.

He also said: "A lack of spare cash is the biggest factor holding back the purchase of insurance by lower income households.

"In early 2008 we will launch a new campaign, with a special emphasis on insurance with rent schemes, improved financial education and easier access to insurance for customers with particular needs."

The ABI was formed in 1985 to encourage high standards of customer service and the implementation of public policy in the insurance industry.

Based in London, the association represents the interests of around 400 insurance companies across the UK.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.

Cookies help us deliver our services. By using our services, you agree to our use of cookies. Learn more