ABI: 35% of low income households have no insurance

DON'T WAIT FOR THE ENERGY PRICE CAP TO SAVE YOU!

 
Standard energy rates will be capped from January 2019, but switching with us could save you as much as £482* on your annual energy bills.

in partnership with Banner uswitch

Looking to switch your business energy supplier? Click here

* Between 1 Jan 2018 and 30 Jun 2018, at least 10% of people who switched energy supplier for both gas & electricity with uSwitch saved £482 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.


Found this page interesting?

Help spread the word and share this page with your friends and family on your social networks.

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